The U.S. Department of Housing and Urban Development (HUD) has initiated a process to update its Multifamily Asset Management and Project Servicing Handbook. This marks the first comprehensive revision since 1992. The department is also seeking public feedback to enhance the implementation and operational efficiency of multifamily projects for its internal asset management team, property owners, and managers.
The handbook serves as a guide for managing HUD-assisted properties and projects. It aims to align with HUD's efforts to benefit residents, encourage engagement with renters seeking affordable housing, and support better maintenance of these properties.
“We understand the unique challenges of managing HUD-assisted multifamily properties and we welcome the input of all our program participants into this update of our guidance,” said Deputy Assistant Secretary of Multifamily Housing Programs Ethan Handelman. “The pending handbook updates not only provide property owners and managers with the tools needed to improve the management of these properties but are part of how HUD ensures that renters living in HUD-assisted properties have a decent, safe, and affordable place to call home.”
For the first time since 1992, hundreds of policy documents will be incorporated into one location within the handbook. It will feature enhanced digital capabilities for quick access to information in a user-friendly format. Property owners and managers will receive tools necessary for serving individuals and families relying on multifamily rental assistance programs.
The initial chapter, titled "Bifurcating Section 8 Contracts," is available on the Multifamily Housing Policy Drafting Table. Stakeholders can submit comments until November 18, 2024. Additional chapters will be released gradually, with completion expected in 2026.
To receive notifications when new chapters are available for feedback, requests can be sent to AssetManagementPolicy@hud.gov.
