Multifamily Asset Managers
Michigan Multifamily Asset Managers
Since June 1, 2000, MAM's affiliate, Michigan Multifamily Asset Managers, LLC, (MMAM), a subcontractor of the Michigan State Housing Development Authority (MSHDA), has performed the asset management core task associated with the Performance Based Contract Administration Program for the Department of Housing and Urban Development in the state of Michigan. This engagement involves over 427 Section 8 contracts with 35,648 housing units.
Since the beginning, MMAM has worked with MSHDA to implement tracking systems and detailed quality control plans to ensure compliance with all ACC requirements. In addition, MMAM and MSHDA have facilitated meetings with owners and management agents across the state, held workshops for our owners and management agents and sent numerous mailings to provide our owners and management agents with program updates. Specific tasks include:
• Conduct Management & Occupancy Reviews
• Section 8 Owner Compliance
• Rental Adjustments
• Owner Opt-outs and Contract Terminations
• Resident Data to HUD
• Life Threatening Health and Safety Inquires
• Non-Life Threatening Health and Safety Inquiries
• Expiring Section 8 Contracts
• General Reporting Requirements (shared with MSHDA)
• Physical Inspection results
• Work Plan Quarterly, Annual Reports
MMAM has undergone 17 successful annual compliance reviews by HUD and three(3) “no deficiency” audits of the PBCA program by the HUD Inspector General’s Office. Throughout the 18 years of the contract, MMAM has met all performance-based standards and adhered to quality levels within the mandated time frames. MMAM’s results demonstrate our abilities to formulate a team that is dedicated to meeting deliverables, establishing quality control, and handling issue recognition and resolution in a changing regulatory environment. For this contract MMAM has earned all incentives. MMAM staff members are frequently invited to speak on behalf of the multifamily affordable housing industry as experts in their field.