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Property Management Compliance

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PHB must be notified prior to any change in property management company prior to the change taking place. Please use the forms in this section to ensure your property management agreement remains compliant with PHB and/or HOME program requirements.
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Replacement Reserves 

Eligible Uses of Capital Replacement Reserve Account Funds General Guidance for Borrowers/Sponsors and Property Managers

CAPITAL IMPROVEMENTS, EXTRAORDINARY REPAIRS & MAINTENANCE

  1. Envelope repairs or replacements that extend the life of the project for at least 5 years (gutters, roofs, siding, stairs, windows, decks, fences, patios, irrigation systems, etc.)
  2. Rehabilitation of or improvements to units at turnover, or as needed, which increase livability and/or marketability (flooring, water heaters, carpet, appliances, doors, etc.)
  3. ADA accessibility improvements (doorways, walkways, ramps, showers/bathtubs, handrails, etc.)
  4. Installation of or improvements to security systems (camera/monitoring equipment, controlled doors, etc.)
  5. Items that significantly improve the property’s energy efficiency

EMERGENCY REPAIRS

  1. Requires immediate action to remedy
  2. Threatens the health, safety, or well-being of the tenant(s) or the property
  3. The cause of the emergency could not have been foreseen by a reasonable and prudent business person in the same or similar situation (a tree falls on the roof during a storm, a pipe bursts, a heating system fails, etc.)

Non-HOME Compliance

Home Compliance 

View more HOME forms

Contact

PHB - Risk Analysis and Compliance

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