Capital Needs Assessments
A Capital Needs Assessment, also known as a CNA, is a property inspection report that estimates the future costs of property maintenance, as well as determining the cost to repair any parts of a property that must be fixed urgently.
Capital Needs Assessments are critical to the long-term viability of a multifamily property. The report can help you develop a budget to use as you tackle some of the immediate needs on the property. The CNA can also give you a good idea of the condition of your rental property, as well as how much money you may need to maintain over time.
Through the AAP, members are eligible for financial assistance to help offset up to 75% of the cost of the CNA. If it has been between 3-5 years since your last CNA, you are eligible to receive up to 50% of the cost, if it has been greater than 5 years, you are eligible to receive up to 75% of the cost when you apply. The cost sharing application provided by the AAP is a fillable application that can be downloaded and saved to your hard drive, here, and emailed back to the AAP Specialist, Jalen Dickens at email@example.com.
Capital Needs Assessment Eligibility Requirements can be found below:
Effective January 1, 2022, Bill 51-20 (Landlord-Tenant Relations – Window Guards) landlords must install window guards for all rental apartments and condos, except for those located in the following municipalities, unless adopting the county’s law:
- City of Rockville
- City of Gaithersburg
- City of Takoma Park
- Towns of Laytonsville
- Garrett Park
- Towns of Barnesville
- Chevy Chase Village
Window Guards or stops must be installed in every habitable room of rental apartments and condos located above the ground floor level that are occupied by children under age 11 or upon any tenants request, which limit window openings to no more than 4 inches.
The AAP has created a cost sharing program to facilitate the cost of the window guards and their installation at your property. Depending on the size of your property you could be eligible for up to $1000. The window guard application provided by the AAP is a fillable application that can be downloaded and saved to your hard drive, here, and emailed back to the AAP Specialist, Jalen Dickens at firstname.lastname@example.org.