HUD awards $48.5M for Florida residential property management to National Home Management Solutions, LLC
Contract Overview
Contract Amount: $48,547,765 ($48.5M)
Contractor: National Home Management Solutions, LLC
Awarding Agency: Department of Housing and Urban Development
Start Date: 2004-08-01
End Date: 2010-01-31
Contract Duration: 2,009 days
Daily Burn Rate: $24.2K/day
Competition Type: FULL AND OPEN COMPETITION AFTER EXCLUSION OF SOURCES
Number of Offers Received: 5
Pricing Type: FIRM FIXED PRICE
Sector: Other
Official Description: MANAGEMENT AND MARKETING - FLORIDA
Place of Performance
Location: MIAMI, MIAMI-DADE County, FLORIDA, 33134
State: Florida Government Spending
Plain-Language Summary
Department of Housing and Urban Development obligated $48.5 million to NATIONAL HOME MANAGEMENT SOLUTIONS, LLC for work described as: MANAGEMENT AND MARKETING - FLORIDA Key points: 1. The contract value is substantial at $48.5 million. 2. Competition was full and open after exclusion of sources, suggesting a competitive process. 3. The contract duration is long, spanning from 2004 to 2010. 4. The sector is residential property management, a key area for HUD.
Value Assessment
Rating: fair
The contract value of $48.5 million over six years averages approximately $8 million annually. Without specific benchmarks for similar property management contracts, it's difficult to definitively assess pricing, but the duration and scope suggest a potentially fair market price.
Cost Per Unit: N/A
Competition Analysis
Competition Level: full-and-open
The contract was awarded under 'Full and Open Competition After Exclusion of Sources.' This indicates that while the competition was intended to be broad, specific sources were excluded, which could have influenced the final price and vendor selection.
Taxpayer Impact: The $48.5 million expenditure represents taxpayer funds allocated for housing management services in Florida. The competitive nature of the award aims to ensure efficient use of these funds.
Public Impact
Provides essential housing management services for residents in Florida. Supports the Department of Housing and Urban Development's mission to create strong, sustainable communities. The contract's duration ensures continuity of services for the affected properties.
Waste & Efficiency Indicators
Waste Risk Score: 50 / 10
Warning Flags
- Exclusion of sources in a full and open competition needs clarification.
- Lack of specific performance metrics makes value assessment challenging.
- Long contract duration could lead to potential cost inefficiencies if not managed well.
Positive Signals
- Awarded through a competitive process.
- Supports a critical government function (housing management).
- Long-term contract provides service stability.
Sector Analysis
This contract falls within the real estate and property management sector, specifically focusing on residential dwellings. Spending in this area is crucial for government housing programs. Benchmarks for similar large-scale residential property management contracts are often tied to occupancy rates, maintenance costs, and administrative overhead.
Small Business Impact
The data indicates that the awardee is NATIONAL HOME MANAGEMENT SOLUTIONS, LLC. There is no specific information provided regarding small business participation or subcontracting goals within this contract, suggesting it may not have directly involved small businesses as prime contractors.
Oversight & Accountability
The contract was awarded by the Department of Housing and Urban Development (HUD). Oversight would typically involve contract performance monitoring, financial reviews, and ensuring compliance with federal regulations to ensure accountability and effective service delivery.
Related Government Programs
- Lessors of Residential Buildings and Dwellings
- Department of Housing and Urban Development Contracting
- Department of Housing and Urban Development Programs
Risk Flags
- Potential for reduced competition due to source exclusion.
- Long contract duration may not reflect current market conditions or needs.
- Lack of explicit small business participation noted.
- Limited transparency on specific performance metrics and value assessment.
Tags
lessors-of-residential-buildings-and-dwe, department-of-housing-and-urban-developm, fl, dca, 10m-plus
Frequently Asked Questions
What is this federal contract paying for?
Department of Housing and Urban Development awarded $48.5 million to NATIONAL HOME MANAGEMENT SOLUTIONS, LLC. MANAGEMENT AND MARKETING - FLORIDA
Who is the contractor on this award?
The obligated recipient is NATIONAL HOME MANAGEMENT SOLUTIONS, LLC.
Which agency awarded this contract?
Awarding agency: Department of Housing and Urban Development (Department of Housing and Urban Development).
What is the total obligated amount?
The obligated amount is $48.5 million.
What is the period of performance?
Start: 2004-08-01. End: 2010-01-31.
What was the rationale for excluding specific sources in the 'Full and Open Competition After Exclusion of Sources' award?
The rationale for excluding specific sources, even within a full and open competition framework, typically relates to ensuring best value or meeting specific technical requirements that only certain vendors can fulfill. This could involve past performance, specialized capabilities, or unique market conditions. Without further documentation, the precise reasons remain unclear but are crucial for understanding the full competitive landscape.
How does the $48.5 million contract value compare to industry benchmarks for managing similar residential portfolios in Florida?
Comparing the $48.5 million contract value requires detailed knowledge of the specific properties managed, their condition, occupancy rates, and the scope of services included (e.g., maintenance, leasing, administration). Industry benchmarks often use cost per unit or a percentage of rental income. Without these specifics, a direct comparison is difficult, but the scale suggests a significant portfolio requiring comprehensive management.
What mechanisms were in place to ensure the effectiveness and efficiency of National Home Management Solutions, LLC's services over the contract's six-year duration?
Effectiveness and efficiency are typically ensured through performance-based metrics outlined in the contract, regular progress reports, site inspections, and tenant satisfaction surveys. The contracting officer's representative (COR) would monitor performance against these metrics. The firm-fixed-price structure incentivizes the contractor to manage costs efficiently while meeting performance standards.
Industry Classification
NAICS: Real Estate and Rental and Leasing › Lessors of Real Estate › Lessors of Residential Buildings and Dwellings
Product/Service Code: RESEARCH AND DEVELOPMENT › Commerce and Housing Credit R&D Services
Competition & Pricing
Extent Competed: FULL AND OPEN COMPETITION AFTER EXCLUSION OF SOURCES
Solicitation Procedures: NEGOTIATED PROPOSAL/QUOTE
Offers Received: 5
Pricing Type: FIRM FIXED PRICE (J)
Evaluated Preference: NONE
Contractor Details
Address: 2100 CORAL WAY, MIAMI, FL, 90
Business Categories: Category Business, Hispanic American Owned Business, Minority Owned Business, Small Business, Special Designations, U.S.-Owned Business
Financial Breakdown
Contract Ceiling: $54,124,644
Exercised Options: $54,124,644
Current Obligation: $48,547,765
Timeline
Start Date: 2004-08-01
Current End Date: 2010-01-31
Potential End Date: 2010-01-31 00:00:00
Last Modified: 2014-08-28
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