Requesting a Property Management Company Change
Proper Procedures in Making a Property Management Change
1) Submit a written request to DCHFA to change the Property Management Company and await approval before notifying the current management company of any desire to remove them.
2) Submit an HUD Form 2530 to the DC Field Office and receive approval prior to submitting a completed Management Agent Questionnaire form to DCHFA.
3) Complete a Management Agent Questionnaire form and submit it to DCHFA with required documents.
4) Await DCHFA decision. DCHFA must approve new Management Agent prior to engagement and prior to notifying current Agent of termination.
5) Once approved current 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. Submit questionnaire 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
- Marketing Plan
- Property Lease Form
- 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.