Property Management Services
Hud Experts & Compliance
- Maintain a working knowledge of applicable Local, State and Federal housing regulations, including Fair Housing Standards.
- Market and promote the Development – use of best efforts to fully occupy the Development with qualified tenants.
- Receive applications for occupancy, interview applicants, verify eligibility of tenants.
- Maintain appropriate lease forms and files.
- Review tenant rules and expectations for tenancy with new tenants.
- Implement administrative rules of the Development; i.e. house rules, tenant selection plan, Fair Housing, etc.
- Complete HUD required certifications in accordance with HUD regulations.
- Establish and maintain positive and appropriate relationships with tenants, stakeholders, and the community at large.
- Prepare and execute payment plans and five-day notices for non-payment in consultation with Management Agent.
- Verifies development eligibility of prospective tenants; conducts and interprets background checks.
- Ensures complete and compliant tenant files and on site Development files per St. Clare Management, HUD and Owner’s Representative standards.
- Participates in the implementation of maintenance procedures for the Development.
- Is thoroughly familiar with the physical operation of the Development.
- Maintenance of a written waiting list of all persons who apply and are qualified under the tenant selection plan.
- Responsible for enforcement of the tenant lease, including institution of legal action or collection agent activity when required, with concurrent approval and knowledge of the Management Agent and Owner’s Representative.
- Receive work orders, assist in preparation as needed, and submit to Maintenance for completion. Maintain a Development file of all received and completed work orders.
- Management Agent shall be considered “on call” for emergency situations.
- Collection of tenant rents, security deposits, and other required monthly payments.
Scope of Accounting Services
- Collection of tenant rents, security deposits, and other required monthly payments.
- Record all payments received and maintain accurate reports of same.
- Deposit collected rents in the Development bank account and maintain accurate reports of same.
- Process Accounts Payable promptly to secure project-related discounts if applicable.
- Prepare Financial Statements in accordance with HUD Requirements.
- Review any and all expenses for Development to ensure accurate recording.
- Review all costs for potential savings and/or need for review or new vendor consideration.
- Maintain appropriate files to ensure compliance with Federal and State requirements for EIN registration and proof of insurance.
- Prepare and submit all 1099 year-end filings.
- Maintain fixed asset data base.
- Assist in preparation of the annual Development budget through identification and reporting of anticipated Development operating budget demands and capital improvement needs.
- Schedule year end fiscal year audit with Owner approved audit firm.
- Work with Audit/Tax firm to ensure timely and successfully filing of year-end tax returns or 990 as applicable.
- Prepare all required audit documents and required work papers.
- Maintain successful and cooperative relationship with all vendors and audit firm.