Multifamily Housing: Better Direction and Oversight by HUD Needed for Properties Sold With Rent Restrictions
RCED-95-72
Published: Mar 22, 1995. Publicly Released: Apr 25, 1995.
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Highlights
Pursuant to a congressional request, GAO provided information on the Department of Housing and Urban Development's (HUD) procedures for implementing a rent-restriction alternative for the disposition of multifamily properties, focusing on: (1) HUD instructions to its field offices and property purchasers on implementing the alternative; (2) HUD instructions to field offices on monitoring purchasers' compliance with rent-restriction agreements; and (3) the expected future use of the rent-restriction alternative.
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Disadvantaged personsFederal property managementForeclosuresHousing programsLow income housingPublic housingReal estate salesRent subsidiesRental housingSurplus federal property