Affordable Housing Blog
   
Subscribe:  
Share Print View
HUD issues guidance on additional management fees to implement a homeless preference
Late last year HUD issued a Memorandum which allows management agents to charge both “special” and “add-on” management fees to cover the cost of implementing and maintaining a homeless preference. The special fee is $2.50 Per unit per month (PUPM) for up to nine months, capped at $4,500 per property and is intended to cover the costs of staff time associated with establishing a homeless preference, such as establishing a referral process with homeless service providers and amending the Tenant Selection Plan.  The add-on fee is $2.00 PUPM (to take effect after the nine months of the special fee), not to exceed $3,600 per project per year.  The add-on fee can be collected even if the special fee was not collected.  This add-on fee is intended to compensate the management company for the additional work inherent in administering a homeless preference.  The HUD guidance gives information on how to apply for these fees and record keeping requirements to justify the fee going forward.

Comments

There are no comments yet for this post.

Privacy Policy | Terms of Use and Conditions | Statement of Client Rights
This website contains attorney advertising. Prior results do not guarantee a similar outcome. © 2016 Nixon Peabody LLP
Categories
expand 1. HUD / RD

AFHS alerts
Elderly Housing -- Section 202
FHA Insurance and Risk Sharing
Preservation - HUD OAHP and Mark to Market
RAD
Section 8 Renewal Contracts
Utility Allowance
expand 2. Local & Regional

California and West Coast
DHCD (DC)
Housing Production Trust Fund
New York and Northeast
expand 3. Energy Tax Credits

expand 4. Historic Rehabilitation Tax Credits

Historic Rehabilitation Tax Credits
expand 5. Low-Income Housing Tax Credits

expand 6. New Markets Tax Credits

New Markets Tax Credits
expand 7. Real Estate

Tax
expand 8. Specialty

Freddie Mac
LGBT Housing
Sequestration
Tax-exempt Entities
expand 9. Video

Video