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Homes and Community Renewal

2008-B-09: Revised Managing Agent Compensation Policy

To: All Housing Companies
     Owners, Managing Agents and Site Managers

From: Robert Damico, Downstate Director Housing Management Bureau

Date: June 23, 2008

Subject: Revised Managing Agent Compensation Policy

The Division has completed an analysis of the current policy with regard to the compensation of the managing agent and the biennial performance evaluations of the agent. The analysis included a comparison of the managing agent compensation formulas implemented by other housing agencies. Furthermore, the Division is currently revising its regulations, which includes recommended changes to the managing agent compensation policy. The following represents the revised policy effective July 1, 2008.

It will be necessary for each Owner and Managing Agent to execute an amendment to the Owner/Agent Agreement reflecting the revised managing agent compensation policy. The amendment form and the adjusted maximum base rate for each housing company will be sent under separate cover. Should you have any questions, please call Ellen Irizarry at (212) 480-7256.

- Robert Damico

Last updated on 05/20/10