Property Management Agreement Sample Page 20
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29physical maintenance and the day-to-day financial administration of the Development.
The Manager must advise the Owner on a frequent, regular basis through written reports,
financial statements, etc., as to the status of the Development and its residents. If, as a
result of monitoring the operations of the Development, the Owner determines that
performance should be improved, it will communicate the need for such change, render
assistance in the formulation of solutions of the observed problems, and follow closely
the progress of the Manager in producing results.
b. Manager’s Responsibilities
The Manager will be responsible to the Owner for all its actions in the operation of the
Development. The Manager has responsibility for adhering to the Management
Agreement and for the execution of the duties and services outlined in this Management
Plan. The Manager has full authority for leasing and occupancy matters, physical
maintenance and day-to-day financial administration of the development.
The Manager will ensure that the project can readily provide the following reasonable
ADA accommodations: changing of water faucets, kitchen equipment and door knobs;
assigning handicap parking spaces; and other reasonable ADA accommodations which
may become necessary or desirable.
Other duties of the Manager are as follows:
To adhere to this Management Plan and to the HCV Administrative Plan
1.
guidelines with respect to the Project Based Voucher requirements and the HUD
regulations as they related to the rental assistance demonstration program. Any
substantive deviations from the Leasing Guidelines, this Management Plan and
the HCV Administrative Plan policies must be approved in writing by the Owner.
The CMHA HCV Administrative Plan is hereby incorporated by reference.
2.
To insure that all tenant admissions meet the income and qualification
requirements of the LIHTC program and/or Project Based guidelines if applicable
to the Development.
3.
To continually monitor the day-to-day operations to insure that the requirements
of this Management Plan, the HCV Administrative Plan and the LIHTC
requirements are fulfilled as required.
Within the bounds of agreed-upon policy, the Manager will have complete authority and
responsibility as follows:
1.
Leasing and marketing.
Manager maintain a ninety-eight percent (98%)
occupancy level.
Sample Property Management Agreement RAD Conversion Sites
Term:
Page 20
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