Public Housing Resident Management Act of 1987

Public Housing Resident Management Act of 1987 - Amends the United States Housing Act of 1937 with respect to public housing resident management.

Authorizes the establishment of a resident management corporation to manage a public housing project if so approved by a project's resident council or a majority of the households of the project.

Requires such a corporation to provide for bonding and insurance and an annual audit of its records.

Authorizes comprehensive improvement assistance for such resident-managed projects.

Authorizes the retention and use of excess revenues for project improvements or tenant employment.

Provides for resident management technical assistance and training.

Limits funding for any particular project to specified levels.