The Fort Worth Housing Authority board approved hiring a private property management company Tuesday to service the authority’s public housing apartments, including Butler Place and Cavile Place.
The switch is in light of budget cuts from the Housing and Urban Development Department, forcing housing authorities to cut costs, said Brian Dennison, the local authority’s vice president of development and asset management.
The board unanimously approved hiring QuadCo Management Solutions LLC, which has been operating in North Texas since 2006.
The change will not affect services, rents or lease agreements and will take effect April 1, but the authority will cut 25 positions because of the change.
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The management fee to QuadCo will be $19,656 monthl;y. The cost savings will offset that fee, Dennison said.
“Fundamentally, a third-party property management company will typically manage for a profit and therefore their approach and their motives are completely different than someone who is an employee there who works for the agency,” Dennison said.
The efficiencies will include the collection of rents, maintenance and renovation of the units, and security.