Multifamily Asset Managers
Michigan State Housing Development Authority
PERFORMANCE BASED CONTRACT ADMINISTRATION
MAM, operating under its affiliate, Michigan Multifamily Asset Managers (MMAM), is subcontractor to the Michigan State Housing Development Authority (MSHDA), providing Performance-Based Contract Administration (PBCA) services to HUD for Michigan projects that receive Section 8 project-based assistance. MMAM has been responsible for performing most of the PBCA core tasks for over 417 properties consisting of over 35,000 units since the program’s inception in 2000.
MMAM has conducted desk reviews, on-site reviews and inspections, and interfaced with owners, agents, property staff and residents. In addition, MMAM reviews and approves Section 8 increases as part of the annual rent adjustments or contract renewal process. In this capacity, MMAM staff review Physical Needs Assessments, audited financial statements, and budgets/forecasts to accurately assess the reasonableness of rent increases, reserve for replacement deposits, and utility adjustments. MMAM staff responds to resident complaints through its Call Center.
• Earned all incentives for MSHDA, and incurred no disincentive since the inception of our contract in 2000.
• Ensured 17 successful HUD annual compliance reviews and 3 finding-free HUD OIG audits.
• We have met all performance-based standards and adhered to quality levels within the mandated time frames.
RENT COMPARABILITY STUDY OVERSIGHT
MAM's affiliate, MMAM, has been providing the Rent Comparability Study Reviews for MSHDA-financed, non-PBCA portfolio since May 2009.