Company Profile

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Community Management Corporation ("CMC") has considerable experience in the development, marketing, rent-up and management of numerous multi-family housing complexes. CMC was established in 1972 for the purpose of managing multi-family housing complexes.

CMC has successfully marketed complexes in the Carolinas and currently manages 186 properties, totaling over 7,500 units. While CMC is somewhat involved in real estate sales, the primary focus is real estate management, specializing in the management of multi-family rental properties utilizing Federal and State financing and subsidy programs. CMC has developed excellent working relationships with many regulatory agencies such as the U.S. Department of HUD, Rural Development, (formerly Farmers Home Administration), North Carolina Housing Finance Agency (NCHFA), public housing authorities and other governmental agencies. CMC's audit record reflects exceptional compliance in its overall management operations as reviewed by the U.S. Dept. of Housing and Urban Development.

North Carolina Management Agent of the Year:

CMC was named Management Agent of the year at the North Carolina Housing Finance Agency's 1999 Housing Forum.

Property Management Services Provided:

Financial Management and Accounting;

Regulatory Reporting;

Compliance Monitoring;

Supervision of Occupancy;

Physical Plant Management;

Staffing and Training;

Resident Relations and Services;

Section 8 Contract Renewal Consultation;

Management Consultation Services;

Recertification Waiver Audits for NCHFA Tax Credit Properties.

Section 42 Tax Credit Housing:

CMC has been particularly active in the development and management of Section 42 Tax Credit housing since the advent of the program in 1987. Currently we manage 45 tax credit properties. In addition, the NCHFA has appointed CMC as their only in-state contractor to conduct recertification waiver audits at tax credit properties on behalf of the agency.

Affordable Elderly/Family Housing:

CMC has extensive experience in the area of affordable "elderly" housing. We enjoy excellent working relationships with numerous churches, not-for-profit agencies and service organizations and have assisted in the development and provide management services for over 60 apartment communities owned and/or sponsored by not-for-profit organizations. Our experience in managing "family" housing provides expertise in rent collections, maintenance issues and resident relations.

Section 8 HAP Renewal Consulting:

CMC is qualified to provide assistance with expiring Section 8 HAP contract renewals. Research is completed and recommendations are provided to the Owner regarding the options available under the renewal program. When the processing requires a comparable market study, we will secure the study, analyze the results and provide the Owner with renewal options.

Management Consultation Services:

In the event full management services are not needed, CMC may provide consulting services in such areas as budget review; rent and resident file review for tax credit compliance; information regarding new regulatory procedures or other issues; review of rent receipts and deposits; review recordation of security deposits; review resident recertifications; assist in preparation of required tax credit reports; perform monthly property inspection; evaluate and recommend regular and preventive maintenance schedules.

Current Program Distribution:

Conventional Tax Credit - 21%

USDA Rural Development - 18%

Section 8 - 61%

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Affiliated Companies:

Eagan and Sons:

Eagan and Sons was formed in 1972 and along with its affiliates has had considerable experience in the development, construction, syndication, marketing and management of single and multi-family housing developments. This experience includes knowledge of the requirements for arranging financing, negotiating syndication proceeds, and supervising the development process.

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Certified Management Contractors, Inc.:

Certified Management Contractors, Inc., an affiliate of Eagan and Sons, has been actively involved in the development of numerous multi-family communities and single family homes in North Carolina. Certified Management Contactors, Inc. was established in 1987.

Click here for information on contacting Certified Management Contractors.