Asset Management - Multifamily Rental Housing

The Asset Management Team of the Mayor’s Office of Housing and Community Development oversees and monitors the operation and financial performance of the affordable, multifamily rental housing projects that have been developed with financial and other forms of support from MOHCD and the former San Francisco Redevelopment Agency. As of 2016, the MOHCD Asset Management portfolio is comprised of nearly 300 operational developments containing over 18,000 affordable housing units, ranging in size from one unit to 300 units and in age from newly constructed to over 100 years old. These projects serve a variety of low-income populations: families, seniors, disabled individuals, veterans, chronically homeless people, transition-age youth, people with HIV/AIDS, among others.

Click HERE to see a map of MOHCD's Affordable Rental Portfolio.

The Asset Management Team's primary responsibility is to service over 600 loans and grants provided for these projects to approximately 100 non-profit and for profit organizations. The Team is also responsible for monitoring the compliance of each project with a host of obligations that borrowers and grantees agreed to as a condition of MOHCD’s financing/support. The Team's goal is to ensure that all projects financed by MOHCD are:

  • serving the intended low-income target populations with affordable rents
  • well-managed and provide decent, safe and sanitary housing
  • financially sound and sustainable in the long term.

In performing its duties, the Asset Management Team acts as a steward of public resources and and works to mitigate risk to the City’s investments wherever possible. The Team strives to:

  • be responsive and fair
  • analyze thoroughly and comprehensively
  • work collaboratively and transparently
  • maximize efficiency
  • build the capacity of the people and organizations that MOH supports.

COMPLIANCE ALERT (4/18/14): Revised Lease-up Procedures Required By Ellis Act Displacement Emergency Assistance Ordinance (PDF)

COMPLIANCE MONITORING

Annual reporting and periodic inspections are the two primary tools that the Asset Management Team uses to monitor projects, assess their performance, and ensure ongoing compliance.

Annual Monitoring Report

The Annual Monitoring Report (AMR) collects data about project operations and fiscal performance. The report is required of most projects that have been financed by MOHCD. (Project owners should check the financing agreement with MOHCD to determine whether or not the requirement applies to a project.) The report is due on May 31 for projects whose business year ends on 12/31 and on November 30 for projects whose business year ends on 6/30, and it must be submitted in electronic form only to moh.amr@sfgov.org. For more information about the AMR, contact Mike McLoone.

Annual Monitoring Report Forms for Reporting Year 2016 (7/1/2015 through 6/30/2016 OR 1/1/16 through 12/31/16)

Notice of Availability - 2016 AMR (PDF)

AMR Reporting Year 2016  (Excel)

Owner Compliance Certificate 2016 (Word)

NEW AUDIT REQUIREMENTS FOR MOHCD-FUNDED PROJECTS (applicable for AMRs due 5/31/16 or later)

AMR Deadlines and Extensions - Effective 11/01/2016

Notice of Change in Methodology Used to Collect Information about Ethnicity and Race of Households

Annual Monitoring Report -- AMR - EZ

The AMR-EZ is used to collect a more-limited set of data about project operations. This report is required of projects with City contracts that impose relatively fewer obligations compared to projects that are required to submit the more-comprehensive AMR. MOHCD will inform you if you are authorized to use and submit the AMR-EZ instead of an AMR. If you have any questions, contact Mike McLoone.

Notice of Availability - 2016 AMR-EZ (PDF)

AMR-EZ Reporting Year 2016 (Excel)

AMR-EZ Deadlines and Extensions - Effective 01/17/2017 (PDF)

AMR-EZ 2016 - Guide for Report Completion (PDF)

Notice of Change in Methodology Used to Collect Information about Ethnicity and Race of Households

Periodic Inspections

The Asset Management Team conducts periodic inspections of projects financed by MOH to determine if they are being operated in compliance with the terms of the MOHCD financing agreements and applicable City and federal regulations. The inspections entail a physical inspection of the project, as well as an examination of tenant files and property management records. For more information on periodic inspections, contact Scott Madden

MOHCD Inspection Forms - These are the forms used by MOHCD staff to conduct periodic inspections.

Site Inspection Notice (PDF)

Interview with Staff (PDF)

Property Inspection Form (PDF)

Tenant File Review Checklist (PDF)

Affordability Restrictions – Income Limits and Maximum Rents

To ensure that the rental housing financed by MOHCD is available to and affordable to low-income people, each project is subject to a set of affordability restrictions, which are enforced through a financing agreement and/or a deed restriction which is usually titled “Declaration of Restrictions” or a "Regulatory Agreement". The affordability restrictions define the income limit(s) that apply to a project and set the maximum rents that can be charged, and among other things, they may also set limits on annual rent increases. Income limits and maximum rents change annually, based on data from the federal Department of Housing and Urban Development.

The limits and maximums for 2016 are effective March 28, 2016, see links below:

Guidance Letter (PDF)

2016 Income Limits (PDF)

2016 Maximum Rents (PDF)

More information on income and rent limits, including historic data, is available on the Income Limits and Rent Limits for Affordable Rental Projects Under Contract with MOHCD page.

Tenant Income Certifications

The following forms must be used to conduct initial and annual income certifications of prospective and existing tenants in MOHCD-funded projects.

Tenant Income Certification Form (PDF)

Tenant Income Certification Questionnaire (PDF)

Tenant Income Certification Policy for MOH-Funded Tax Credit Projects (PDF)

Technical Guide for Determining Income and Allowances (PDF) - for HOME-funded projects only

Marketing Requirements for MOHCD-Financed Multifamily Rental Projects

Before advertising the availability of units for lease in a project or the opening of the waiting list, owners and property managers must notify MOHCD of this action by completing a FileMarketing Plan Template and submitting it to the staff person assigned to the project on MOHCD’s asset management and compliance monitoring team. Once the marketing plan is approved, MOHCD will post information about the available units or opening of the wait list on this page of our web site. General information for people seeking affordable housing in San Francisco can also be found on our web site at this location.

Policy Documents

Program Income Overview (MS Word)

Residual Receipts Policy (PDF)

Insurance Requirements (PDF)

Operating Fees Policy (PDF)

Capital Needs Assessment Policy and Related Documents:

CNA Policy for MOHCD-Financed Projects (PDF)

Replacement Reserve Analysis - Sample (Excel)

Fannie Mae Guidelines (PDF)

Fannie Mae Form 4327 (PDF)

Fannie Mae Form 43227a - Instructions (PDF)

 

LOAN SERVICING

Confirmations of Outstanding Loan Balances

Borrowers and their auditors may request Confirmations of Outstanding Loan Balances and other documentation by contacting Mike McLoone. Please allow 5 business days for a reply.

MOHCD Loan Modifications, Consents and Approvals

Borrowers who wish to modify their existing loans from MOHCD or who need our consent or approval for agreements or transactions with other parties must submit a Proposal Review Request Form, a 20-Year Proforma and any supporting documents required by MOHCD staff. Such modifications include loan extensions, refinancing, subordinations, modifications to affordability restrictions and transfers of ownership. The cost of MOHCD staff and City Attorney staff time spent on the transaction is payable by the Borrower and is recouped through the Proposal Review Fee. For more information on loan modifications or consents and approvals, contact Mike McLoone.

 

SERIOUS INCIDENT PROTOCOL

Even the most effective management of affordable housing properties cannot completely prevent the occurrence of serious, negative events such as accidents, criminal activity or equipment failure. At their worst, these events can lead to property damage, displacement of tenants, bodily injury or death. If a serious incident does occur, the property owner should notify all stakeholders in the project of the occurrence as soon as possible, after emergency procedures have been followed and the situation has been stabilized.

The Mayor’s Office of Housing and Community Development requests that owners of projects financed by this office notify us immediately if a serious incident occurs at their properties and meets one or more of the following parameters:

  • Involves serious injury or death
  • Is a serious, violent crime that involves a major police action (e.g. shooting)
  • Causes the building or a significant number of units therein to be off-line
  • Requires a resident to move out of a unit one month or longer
  • Damage to the building is significant enough to require the use of reserves

The owner should notify the MOHCD asset manager assigned to the project and provide the following information:

  • The date of the incident
  • A description of the incident
  • A description of what has been and is being done in response
  • The name, phone and email of the staff that should be contacted if there are questions
  • Confirmation that 1) the property insurance is current and 2) the insurance company has been contacted; a brief summary of their response, if available
  • Statement of whether or not the organization plans to use the project’s reserves to pay for corrective action