Date Published: October 2012
There are two levels of rental property management: asset management (owner's long-term responsibilities) and property management (manager's day-to-day responsibilities). Both the owner and manager need clear, written policies and procedures that incorporate all of the tasks to be performed by each party and identify who performs them. The grantee must adopt effective policies and procedures to oversee the rental project long term compliance. From HUD's perspective on rental property management, grantees and owners should be aware of the affordability period, affordable rents, and tenant income requirements. For more information, view the following resources:
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