24 CFR 401.560 - Property management standards.
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(a) General. Each PAE is required by section 518 of MAHRA to establish management standards consistent with industry standards and HUD guidelines. The management standards must be included or referenced in the Restructuring Plan.
(b) HUD guidelines. At a minimum, the PAE's management standards must require the project management to:
(1) Protect the physical integrity of the property over the long term through preventative maintenance, repair, or replacement;
(4) Protect the financial integrity of the project by operating the property with competitive and reasonable costs and maintaining appropriate property and liability insurance at all times;
(6) Comply with other provisions that are required by HUD, including termination of the management agent for cause.
Title 24 published on 2014-04-01.
No entries appear in the Federal Register after this date, for 24 CFR Part 401.