IHDA-Assisted Multifamily Rental Housing
IHDA and its Asset Management department welcome you to this page which outlines key information and helpful resources for the management of IHDA-assisted multifamily rental housing.
The Asset Management department is responsible for ensuring effective and efficient program administration and long-term compliance for the largest portfolio of affordable multifamily rental housing in the state of Illinois. This work encompasses physical, financial, and operational compliance oversight for properties that utilize a variety of financial instruments including debt, equity, and operating subsidy. The Asset Management department works in partnership with property developers, owners, and managers as well as other funders, interagency groups, and stakeholders.
The following teams comprise the Asset Management department:
- Executive: Establishes and implements departmental strategic direction – guiding structure, operations, preservation initiatives, and department culture – in partnership with internal and external stakeholders.
- Strategic Solutions: Serves as an implementation driver for departmental strategic direction through consultative work in policy, processes, data, and training.
- Portfolio Analysis: Ensures financial viability of properties through financial analysis, insurance and reserves administration, and loan servicing. Proactively identifies and responds to portfolio risks through an array of intervening measures including restructuring of ownership, management, and/or financing.
- Program Administration: Develops and implements programming including contractual and subsidy administration. Oversees physical conditions compliance based on applicable Federal and State standards through capital improvement request handling and conduct of inspections.
- Rental Compliance: Oversees operational compliance of properties assisted with IHDA bonds, grants, loans, or tax credits based on applicable Federal and State standards through management, occupancy, and tenant file reviews
Ensure effective and efficient program administration and long-term compliance for the largest portfolio of affordable multifamily rental housing in Illinois.
Take a structured and strategic approach to preserve the IHDA investment in and to achieve optimal benefits for residents in partnership with property owners/agents.
Principles of communication, accountability, and consistency inform decision-making, shape culture, and drive work.
Additional Informational Resources
IHDA and its Asset Management department are excited to announce the 2021 Compliance Connection resource portal which outlines annual compliance requirements and options for our valued partners – property owners and managers. Please check out the link below to access related information and documentation including guidance on use:
Portfolio Risk Management
Rental Schedules/Worksheets-Section 8
Rental Schedules/Worksheets-All Other Programs
Management Agreement Extension
Rental Housing Support Program
Long-Term Operating Support Program
Section 811 Program
Statewide Referral Network
HUD HOME Waiver Update, Revision and Extension
IDHR General, Fair Housing Training and Development
Eviction Moratorium Update
New CDC Order on Evictions
Eviction Moratorium Update
IHDA Asset Management – FY 22 Structural Changes Announcement
Eviction Moratorium and COVID-19 Reopening Updates
*Correction – 2021 Income/Rent Limits for HOME, NHTF, NSP
State Rental Assistance Program Opens May 17
HUD 2021 Income Limits
2021 Compliance Monitoring
Cook County Assessor’s RPIE Tool Webinar
Extension of State and Federal Prohibitions on Evictions
2021 Illinois Rental Payment Program
Issuance of 2021 Compliance Connection
IRS Renews COVID-19 Regulatory Relief for LIHTC Properties
HUD Renews HOME Program Regulatory Relief
2021 OCAF Adjustment
2021 Social Security COLA Increase
2021 Security Deposit Interest Rate
Update on State and Federal Prohibitions on Evictions