Magazine article Journal of Property Management

A Case in Point

Magazine article Journal of Property Management

A Case in Point

Article excerpt

My belief in the viability of public/private partnerships is based on first-hand experience. Our company manages five public housing communities for Dade County HUD in Florida. Gregory Byrne, director of Metro-Dade HUD, has taken the best of both public- and private-sector expertise and merged them into a comprehensive management plan. From a centralized accounting and maintenance system, Dade County has structured a portfolio of public-housing properties that are individually managed by private companies as market rate housing, while retaining the social responsibilities of the public sector. This move of the housing authority to the asset management level has resulted in expansion of private-sector of property management responsibilities as well.

As with any asset manager/property manager relationship, properties are operated to meet mutually agreed upon goals:

1. Work order processing to meet PHMAP requirements. (PHMAP is HUD's system by which the housing authorities are rated on success or failure of their program. The PHMAP rating includes occupancy, recertifications, tenants' accounts receivable, etc.)

2. Proper staffing at the portfolio and property level. considering the social programs required to meet residents' needs, staffing must be structured to provide resources to meet the economic needs of the community's residents.

3. Annual inspections of unit interiors.

4. Reducing resident turnover. This is a new concept to the public sector, but one in which the private sector is well versed. With the move to convert project-based subsidy to portable vouchers, keeping a marketable community and satisfied residents tales on a whole new importance.

5. Quick turnover of units. Getting units to market-ready faster not only meets the need to reduce vacancy rates, but also makes additional housing available to the disenfranchised.

6. Accurate and timely resident recertifications. …

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