The Tennessee Housing Development Agency (THDA) released the following message on QAP requirements for Certified Property Management:
“Since 2013, THDA’s Low-Income Housing Credit Qualified Allocation Plans (QAP) have required properties allocated Low Income Housing Credits (Housing Credit) to be managed by Certified Property Management (CPM) companies. THDA’s Certified Property Management Program ensures Housing Credit properties are managed by companies knowledgeable in Housing Credit compliance. Housing Credit properties allocated in 1993 or earlier, can request a waiver from this requirement.
In 2018, the CPM program was temporarily put on hold while we planned to streamline the process into the new Tennessee Housing Online Multifamily Application System (THOMAS). However, competing priorities within the new implementation process has forced us to delay full CPM utilization, in THOMAS, until next year. In the interim, we need to request that all property management companies complete the application process, on paper, to remain in compliance. Attached, please find a copy of the CPM process overview and guidelines, as well as the application under the Compliance Forms section on the website. Please take the time to look through all requirements and submit the application, along with all supporting documentation, to TNCompliance@thda.org as soon as possible.
Please note, this is a new process that all property management companies must complete, regardless if your current certification is still active. Once the THOMAS implementation is complete, we will provide further guidance on system requirements and future recertification.
If you have any other questions or concerns, please contact Chuck O’Donnell at TNCompliance@thda.org.”
