2008-10-06, 09:03

Opportunities for Property Management Companies Under the EESA

By: Multifamily Real Estate Industry Team
It seems to be the conventional wisdom that the Emergency Economic Stabilization Act ("EESA" or "Bailout Plan") that President Bush signed into law last Friday afternoon will not immediately free up capital markets, make credit more available, or in general alleviate our serous economic problems. That said, the text of the Bailout Plan, hot off the press, is being eagerly studied by many businesses, including those in the multi-family housing sector, to determine what business opportunities have been created by the new legislation.
Indeed, it appears that there are many. Section 101 of the EESA contemplates that Treasury will enter into a variety of agreements with a variety of third party service providers, including firms that will provide property management services for troubled assets purchased by Treasury. At the same time, these service providers will be subject to a good deal of scrutiny and oversight required by the new legislation.

For a discussion of these and other provisions of the EESA relevant to property managers and others in the multi-family housing industry, see a summary of the legislation prepared by Womble Carlyle's EESA Action Team by clicking on this link. http://www.wcsr.com/?id=680&objid=181

(This entry posted by Karen Estelle Carey, a member of the EESA Action Team and Womble Carlyle's Multi-Family Housing Group.)

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