New York Codes, Rules and Regulations › Title 9 - EXECUTIVE DEPARTMENT › Subtitle S - Division of Housing and Community Renewal › Chapter IV - State-assisted Housing Constructed By Private Enterprise › Subchapter C - Housing Company Management › Part 1729 - Operations And Maintenance › Subpart 1729-1 - Project Management › Section 1729-1.2 - Housing companies employing managing agents

Current through Register Vol. 46, No. 28, July 10, 2024
(a) All managing agents must be approved by
						the division and meet minimum eligibility requirements as follows:
(1) be a real estate broker in good standing
						duly licensed by the State of New York;
(2) furnish the housing company and the
						division with evidence that each person authorized to receive, handle or
						disburse any monies of the housing company is covered by a fidelity bond,
						naming the housing company as beneficiary and equal to at least 25 percent of
						the annual rent roll. The bond shall be issued by an insured duly licensed by
						the Superintendent of Insurance of the State of New York to transact fidelity
						bond business in the State of New York and shall provide that any payment made
						thereunder shall be payable to the housing company. A copy of the bond shall be
						furnished to the commissioner and shall provide that the commissioner be given
						15 days' written notice of any cancellation thereof. In lieu of a separate
						fidelity bond from the managing agent, the housing company may elect to provide
						the required coverage for the managing agent by the rider to its fidelity
						bond;
(3) provide the housing
						company and the division with a completed "Statement of Qualifications for
						Management Firm Seeking Owner/Agent Agreement";
(4) submit to the housing company and the
						division a proposed management plan for the housing development which shall
						contain:
(i) the name, title, job
						description, qualification of the prospective salary of any site manager who
						will manage the project. The site manager must be certified, by a professional
						organization which certifies property managers;
(ii) an organizational plan to set forth
						lines of responsibility and authority among the managing agent and staff
						assigned to the housing development as well as housing company employees
						supervised by the managing agent;
(iii) the location of and telephone numbers
						for the managing agent site office and the hours and days of
						operation;
(iv) an operational plan
						to administer agent functions pursuant to subdivision (i) of this section which
						include marketing (selling or renting), physical maintenance, financial
						administration, resident relations and general administration;
(v) an affirmative action plan to ensure that
						the employees are recruited, selected, and retained in such a manner as to
						ensure equal employment opportunities, and to require the agent to make all
						reasonable efforts to solicit bids from minority and women-owned business
						enterprises for the services and/or purchases to be contracted for on behalf of
						the housing company and to make certain that such bids receive full and fair
						consideration;
(vi) a
						representation to comply with the Private Housing Finance Law and Part 1700 of
						this Title; and
(vii) a
						representation that any changes in the approved management plan must be
						approved by the housing company and the division;
(5) maintain an office or place of business
						within the State of New York at no cost to the housing company where it will
						keep all books, records, bills and other documents relating to the housing
						development. The management agent shall keep these records available for
						inspection and review during regular business hours by the housing company, the
						division or their designees; and
(6) submit a request for managing agent fees
						which shall not exceed the maximum fee established by the division.