Chicago HA May Reduce Number of Contracted Property Management Companies
The Chicago (Illinois) Housing Authority (CHA) is considering reducing the number of property management companies that oversee its public housing units. The CHA has proposed cutting back from nine to five private property management companies as a way of streamlining costs and raising accountability, according to an article appearing in Chi-Town Daily News.
The five companies that were selected from 24 applicants over a half-year screening process would each oversee about 1,200 to 5,500 units. Their responsibilities would include overseeing occupancy, leasing, marketing, selecting residents, enforcing leases, collecting rent, eviction, maintenance and repairs, grounds management, budgeting, etc. Approximately 20 percent of their two-year management contracts would have to be used to hire contractors or subcontractors owned by minorities, women, or people who are disabled. The CHA would have the option of renewing their contracts for one year up to three times, for a total of up to five years.