CPM Manages HUD Housing
CPM Real Estate Services is proud to announce the management of Mulberry Court, a HUD (Section 8) property. HUD helps low-income families by providing rental subsidies through Section 8 certificates and vouchers, which help pay the portion of rent that families can’t make. In order to qualify for rental aid, families must meet certain income requirements established by HUD, which change each year and vary by area.
Mulberry Court is a 30 unit apartment complex with an on-site laundromat and play area for the children. Since taking over the management of this property we have made many changes and improvements. We hired an on-site manager to address tenant concerns and resolve maintenance issues, as well as providing regular office hours and basic administrative functions. Some of the major improvements include updated landscaping, a new property sign, and a full exterior paint. To celebrate these improvements a community BBQ was held in September for all of the tenants and their families. There were over 100 people in attendance.
One of the conditions of managing a government subsidized property is the completion of an educational course about the HUD program and the standards of managing this type of property. In order to fulfill this requirement CPM sent three staff members to San Francisco to attend the course. After being gone for a week and studying night and day, the staff members were armed with a better understanding of the stringent laws, processes and documentation that is mandated for the management of a HUD property. Additionally, CPM purchased the HUD module that integrates with our YARDI software in an effort to streamline the reporting and accounting process.
This endeavor has proven to be challenging as well as enlightening. The opportunity for growth in this division is there and CPM is continuing to learn and formalize the management processes for this type of property.
If you have a HUD property and would like to learn more about our services contact our Residential Division Manager, Jeff Palodichuk, 541-842-2405 or email: mailto:email@example.com