The U.S. Department of Housing and Urban Development (HUD) announced the start of its process to update the Multifamily Asset Management and Project Servicing Handbook and launched a request for public feedback to improve the implementation and operational efficiency of multifamily projects for its internal asset management team, property owners, and management.
Both actions ensure the handbook, a comprehensive guide for the management of HUD-assisted properties and projects, aligns with the Department’s efforts to benefit residents, encourages more active engagement with renters seeking affordable housing, and supports better maintenance of those 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 Assist Secretary of Multifamily Housing Program 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, the handbook will incorporate hundreds of policy documents in one location with enhanced digital features enabling quick access to information in a user-friendly format. The handbook will also provide property owners and management with the tools they need to serve individuals and families who rely on multifamily rental assistance programs.
The first chapter, titled Bifurcating Section 8 Contracts, is available on the Multifamily Housing Policy Drafting Table and interested stakeholders can submit comments through November 18, 2024. Additional chapters will be released on a rolling basis. HUD will publish the complete, updated handbook in 2026.
