Housing Quality Standards
From time to time, your team at Knapp Hall Investments finds it necessary to revise a policy and/or procedure in order to keep the best interest of our owners and the health/safety of our residents the core of our company culture. As a result, Knapp Hall Investments has determined the need to bring all our managed properties to the minimum quality criteria necessary for compliance with Federal Housing Quality Standards. Housing Quality Standards (HQS) address a variety of housing safety and quality issues including: lead-based paint regulations, pest control, trash disposal, appliances, and the proper installation of smoke detectors.
The following is a list of common HQS although not all-inclusive:
- Ceilings and walls are in good condition with no large cracks, holes, peeling paint or loose plaster.
- All rooms have either two working electrical boxes or one working outlet and one overhead light or light fixture.
- Presence of locks on ground floor windows.
- Handrails are present for stairwells composed of four or more steps.
- All windows have screens in good repair. (depending on County requirements and owner/tenant requirements)
- Windows open properly and can remain open, no cracked or broken windows.
- Absence of plumbing problems such as leaking faucets or running toilets.
- No exposed wiring, broken switches, cracked plates or ungrounded/failed plugs.
- Outside fencing in good repair.
- Gutter and downspouts secured, replace rusted or missing gutters & downspouts.
This policy improvement will not impact most of our managed properties, since they already meet the established standard. For those properties that don’t currently meet the HQS, we will bring the property in compliance when your current tenant elects to leave the property. While this may increase the out-of-pocket for your next rehab., we truly believe that it will reduce the vacancy period, provide you with a better tenant and allow us to maintain higher rents for these properties, while also insuring these homes are safe for the tenants, and helping to reduce any potential liability.
As always, we are managing the risk associated with being a landlord and believe that this decision will improve the cash flow earned by your properties.
If you have any questions related to this policy change, please don’t hesitate to contact us.