§ 302-15.1 - What are property management services?

§ 302-15.1 What are property management services?

Cross Reference

Link to an amendment published at 89 FR 12256, Feb. 16, 2024.

“Property management services” are programs provided by private companies for a fee, which help an employee to manage his/her the employee's residence at the old official station as a rental property. These services typically include, but are not limited to, obtaining a tenant, negotiating the lease, inspecting the property regularly, managing repairs and maintenance, enforcing lease terms, collecting the rent, paying the mortgage and other carrying expenses from rental proceeds and/or funds of the employee, and accounting for the transactions and providing periodic reports to the employee.

[FTR Amdt. 98, 66 FR 58196, Nov. 20, 2001, as amended by FTR Case 2022-05, 89 FR 12256, Feb. 16, 2024]