The California Department of Housing and Community Development’s (HCD) Asset Management and Compliance Branch created guidance related to asset management and compliance functions for projects in HCD’s portfolio. The guidance will be in effect beginning April 16, 2020 and re-evaluated on a continual basis.
Property owners and management agents should refer to this guidance when considering relief options for properties experiencing cash flow shortages due to decreased rental revenue caused by renter (both residential and commercial) failure to pay as a result of the COVID-19 state of emergency.
