TELESEMINAR: Multi-Family Development and Management Agreements – A National Perspective
December 10, 2013
12:00 – 1:00 p.m.
1.00 MCLE hours
Multi-family properties – apartment buildings, multiplexes, rehabbed and subdivided single-family houses – have fared well during the general real estate downtown. As individuals look to more affordable, stable and short-term housing, they increasingly look to apartments and multiplexes. These trends are fueling a substantial increase in the development of new multi-family properties and the rehabilitation of existing properties into multiplexes. The credit crisis and recession in the real estate economy, however, have made both conventional and government guaranteed finance of these properties much more challenging. The short-term nature of occupancy of these properties also puts a premium on carefully drafted management agreements. This program will provide you with a practical guide to planning, structuring and drafting the development, finance and management of multi-family properties.
- Development, finance, and management issues for multi-family properties
- Conventional financing – special requirements for multi-family properties and trends
- Government sponsored or backed financing options – HUD/FHA, Fannie Mae and Freddie Mac
- Development agreements for multi-family properties – new construction v. buy/rehab/refinance
- Management agreements – scope of duties, liability, fees, collection of rent and rent increases
- Managing turnover – issues and fees related to marketing to new tenants
development and management agreements necessary for successful multi-family projects.
Richard R. Goldberg, Ballard Spahr, LLP, Pennsylvania