Property Management Change Requirements
The process of updating a project's property management team with PHB's Risk Analysis and Compliance team has changed. Please read this document for further detail. When a project's property management company changes, the two forms below must be submitted to the PHB RAC Coordinator, or sent to assetmanagement@portlandoregon.gov along with a copy of the Property Management Agreement (PMA) or PMA Addendum for review and approval.
This form must be completed in its entirety by the Property Management company hired to manage 1) a newly developed project at or before initial lease-up or 2) an existing/operating project, replacing the current/previous property management company due to ownership decision, PM resignation, or a project's Transfer of Ownership.
This form should be completed by a representative of the project's ownership team (ideally an asset manager) PRIOR to contract execution with the new Property Management company. Complete the form in its entirety and submit to the project's PHB RAC Coordinator and/or assetmanagement@portlandoregon… along with the PHB Property Management Profile Form, the PMA and/or the PMA addendum.
Reserve Requests - Operating and Replacement
New PHB Requirement for Withdrawal Requests from Replacement Reserves for Projects with PHB Replacement Cost & Capital Improvement Agreements
Beginning January 1st, 2026, your Risk Analysis and Compliance (RAC) Coordinator may deny Replacement Reserve withdrawal requests for expenses that are more than one year old from the date of submission to PHB.
Additionally, to improve processing time for these requests make sure to,
- Submit the request in Excel format
- Include in your submission a replacement reserve bank statement no more than two months old. If no statement is available, submit a current balance sheet or screen print of the current balance from the bank's website
- Include invoices in the same order as they appear on the request form
- Consider making replacement reserve withdrawal requests at least twice a year, or quarterly, for each project
Before submitting your replacement reserve withdrawal request, please review the Eligible Uses of Replacement Reserve Account Funds Guidance and remove non-eligible items.
The PHB RAC team appreciates your cooperation.
If you have questions, please reach out to your RAC Coordinator or send an email to assetmanagement@portlandoregon….
Eligible Uses of Replacement Reserve Account Funds Guidance 212.24 KB
Reserve Withdrawal Request Forms 63.75 KB