OHFA Owner and Management Policy Updates



The Office of Program Compliance (PC) has revised the Owner/General Partner and Management Company Change Policy and its associated forms. These changes were made to better describe owner requirements and in some cases reduce the amount of documentation that must be submitted to PC.

Several substantive changes to the policy were made. First, requests for owner and/or property management company changes must be submitted no later than 30 days prior to the proposed change. The previous policy notification requirement was 60 days. Second, the policy clearly defines different requirements for entities not known to OHFA (i.e. not having received OHFA funding) and for properties in Extended Use (post year 15). A third change is there are now requirements for CHDO Organizations or Gap-Financing Recipient changes. Last, the policy explains Ohio Broker’s License requirements for property management companies who are fee-managing.

Several forms associated with owner/general partner and/or property management company changes were redesigned to incorporate changes made to the policy and allow for improved formatting and ease of use by owners. These forms are: Disposition of Property Form PC-E37, Management Change Form PC-E39, and Management Company Capacity Review Form PC-E38. A new form, Owner Capacity Review Form PC-E40, was created for owners not known to OHFA so that OHFA can better start its relationship with its new partners.

For a full list of the requirements for either owner/general partner and/or management company changes please review the Policy. The revised Policy and forms are now posted on our website under Owner & Management Company Changes. Owners should begin using the forms effective immediately.

It is important to remember OHFA must approve owner and/or property management company changes before the change occurs. Owners who fail to provide timely requests for approval may be placed on OHFA’s Watch List or in not in good partnership status. 

In drafting the policy and form changes, industry partners were consulted along with OHFA's Program Compliance Advisory Committee. Questions regarding this message may be directed to Betsy Krieger, Director of Program Compliance,