Management Agent Certification

All existing and/or new management companies seeking to manage properties in Missouri will be required to submit an application to be approved as a “Certified Property Management Agent.” The application addresses a number of items relative to the management agent including, its principals, the company’s operations, and qualifications of its management staff; as well as agent’s performance in managing multifamily properties. MHDC staff will review applications and make recommendations for approval, or disapproval, to the Asset Management Committee, which includes the Compliance and Financial Asset Managers; the Project Based Contract Administration Coordinator, and Program Compliance Administrator.

Once a management company is approved as an MHDC “Certified Management Agent,” MHDC will specify the length of time for the certification, and will place the property on an approved “Certified Property Management Agent” list that will be made available on MHDC’s website.

 

Management Fees

The maximum management fee approved by MHDC for the 2023 fiscal year is $45 per occupied unit per month. Owners and management companies are allowed to negotiate a lower management fee, and this policy does not apply to properties whose management certification must be approved by HUD.

Fee increases will be based on the published HUD Operating Cost Adjustment Factor Percentage increases (OCAF) for Missouri, calculated as follows: