About the Responsible Property Management Standards (RMPS)

The Responsible Property Management Standards (RPMS), consistent with fiduciary duty, support fair practices for residents living in properties owned or funded by asset managers. The standards are designed to:

• Reduce housing instability for tenants.

• Help manage investment risks and attain targeted financial returns for the benefit of residents, investors, plan participants, and beneficiaries.

The seven core principles include:

1. Implement consistent and fair tenant screening and selection practices.

2. Offer clear and fair leases; reduce undue burdens of security deposits.

3. Maintain safe, quality, accessible housing.

4. Foster positive tenant-landlord relations.

5. Honor tenants’ rights to free speech and free association.

6. Optimize tenant stability.

7. Minimize evictions and other negative exits.

Each principle is associated with one or more standard practices: a normal or common approach, policy, procedure and/or process designed to produce a consistent desired outcome. Standard Practices represent the minimum expectations.

Beyond the standard practices, the principles are supported by several best practices, which are experience and/- or evidence-based approaches intended to provide a road map for asset managers seeking to further elevate property management quality over time.

Finally, the principles and practices are accompanied by a set of public disclosures. The Disclosures are designed to increase market transparency and enable prospective tenants to make more informed choices. The Disclosures are intended to be public and are in addition to any disclosures that might be provided in the normal course of investor due diligence.

Click below to download the fact sheet