§2891c Transparency regarding finances and performance metrics

Summary

Requires the Secretary of Defense to get a report from each landlord at least once a year about all the housing they provide. Each report must include a clear money summary, the amounts of various fees (base management, asset management, preferred return, residual cashflow distributions, and any deferred or other fees), details about each insurance policy (what it covers, the deductible, the policy limit, and the total premium), and the total paid to tenants through any dispute resolution process. Defined terms (one line each): base management fees — monthly fees for day-to-day property operations; asset management fees — fees to keep and repair units over their life; preferred return fees — fees tied to profits paid to preferred investors; residual cashflow distribution — steps taken when a project is in poor financial shape; deferred fee — a fee unpaid in a calendar year to meet other landlord obligations. At least once a year, if a tenant asks, the Secretary must provide at the installation housing office an assessment of the indicators behind each contract’s performance metrics and information about any incentive fees. The indicators must at least cover tenant satisfaction, maintenance management, safety, and financial management. The assessment must describe each indicator, note limits of survey data, explain how satisfaction and maintenance are measured, say if data is missing, and list the incentive fees, the metrics used, whether fees were paid or withheld, and why.