“Champions do not become champions when they win the event, but in the hours, weeks, months and years they spend preparing for it.” – Alan Armstrong
On September 29th, HUD published Housing Notice 2023-10 which prompted significant changes to the HOTMA Final Rule from February 14th while also creating extensions for implementation. Although we encourage industry stakeholders to read this document, we understand that 111 pages of information is a lot to read and digest and some nuances may be overlooked. Therefore, our team at DeSilva Housing Group has worked feverishly to absorb and understand these forthcoming changes in order to educate your group.
While the Final Rule’s effective date remains January 1, 2024, HUD recognizes that HOTMA includes significant program and system changes. Multifamily programs will have to implement these changes in stages giving you, the owners/agents, more time to learn, apply and execute the new HOTMA rules and discretionary policies.
How Can DeSilva Housing Group Help You Prepare?
The final deadline for implementation is December 31, 2024, which will allow several months for you to enlist DeSilva Housing Group’s help! We can assist with your company’s training needs and develop customizable policies and documents that are HOTMA compliant. In addition, our HOTMA materials have been revamped to include these necessary updates and we are looking to visit a city near you in 2024! Be on the lookout for a list of our in-person venues as they are established.
You may be asking yourself, “I already sat through a HOTMA training; do I have to register for one in 2024?” The additional changes included in the Supplemental Notice are extensive and sweeping. We strongly suggest participating in additional training that includes these new updates.
If you are interested in a large private training, reach out to Lauren at lauren@desilvahousinggroup.com to discuss availability and pricing. We look forward to working with you!
