Property Management: Long-Term Thinking and Short-Term Action
This document is a compilation of examples of good property management procedures being used in nonprofit affordable housing. It was created as a training manual highlighting best practices in property management throughout the life of an affordable housing property. The manual contains procedures, forms and documents that reflect the role of property managers in the predevelopment, planning, construction, rent-up, and on-going management stages of affordable, residential, real estate developments. This 268-page document is very comprehensive. It includes examples of policies and procedures that address the eight basic functions of management: financial planning, regulatory agreements, management operations, housing, risk managment, maintenance operations, monitoring performance and resident services. It contains a variety of tools for studying ways to plan, organize and control a property management operation. And it also highlights a variety of ways to track the property's fiscal, physical and social performance.