Requesting a Property Management Company Change
Proper Procedures in Making a Property Management Change
1) Submit a written request to DCHFA for a preliminary approval of your desire to change the Property Management Agent. This should be done before notifying the current approved management agent of your intent to remove them. This preliminary approval is required before moving forward with the Management Agent Change process.
2) Upon preliminary approval from DCHFA, submit HUD Form 2530 to the DC Field Office and receive approval prior to submitting a completed Management Agent Questionnaire form to DCHFA.
3) Complete the Management Agent Questionnaire form and submit to DCHFA with all required documents.
4) Await DCHFA’s decision. DCHFA must approve new Management Agent prior to engagement and prior to notifying current Management Agent of termination. DCHFA will render a decision within 30 days of receiving an approved HUD 2530.
5) Once approved current Management Agent may be notified of eminent change.
Procedures to Complete Management Change Application
1) Once approved HUD Form 2530 is received, have the proposed Management Agent complete the Management Agent Questionnaire and submit along with the following documents:
- Letter Requesting Management Agent Change w/Explanation
- Agent Profile
- Resumes of all Principal and Key Personnel
- Copies of Site Manager and Staff Certifications
- Three Years of Audited Financial Statements
- Affirmative Fair Housing Marketing Plan
- Fidelity Bond Insurance
- Property Management Agreement
- Property Management Plan
- Proof of Broker’s & Property Manager’s License
- Marketing Plan
- Property Lease Form
- DC Property Manager’s License
- HUD Form 2530
- HUD Form 9832
2) The submitted application will be reviewed by the compliance coordinator for completeness. The Owner will be notified of missing documents and given 15 days to submit the documents required to complete the application before it is rejected.
3) Upon receipt of a complete application, the Project's DCHFA Asset Manager will review the request and make a recommendation to approve or reject the proposed Management Agent.
4) Upon DCHFA approval of the Management Company change, the Owner may proceed with notifications.
5) Refer to your Land Use Agreement for additional guidance on Management Agent changes.