Blog
Key Takeaways from Two Major Industry Conferences in Washington, D.C.
In late October 2024, our team attended both the NAHMA Biannual Top Issues in Affordable Housing Conference as well as the National Leased Housing Association’s Fall Seminar. Both conferences were attended by HUD Multifamily staff and designed to facilitate discussion between HUD and industry stakeholders with regards to hot topics and ongoing developments in the […]
Read More....HOTMA’s Impact on HUD’s Multifamily Housing Industry
Ready or not, HOTMA is coming…and you should be ready for HOTMA’s Impact on HUD’s multifamily housing industry. HOTMA (Housing Opportunity Through Modernization Act) introduces the most significant and comprehensive changes that HUD’s occupancy requirements for the HUD Multifamily Housing industry have seen in the last ten years. Whether you have five or 500 HUD […]
Read More....5 Positive Takeaways in HUD’s HOTMA Final Rule
Buzz about the HOTMA Final Rule has dominated the affordable housing industry this year. Questions from property owners abound: When will it officially roll out? How will it impact tenants? When do property leasing staff really need to be trained? HOTMA introduces the most significant set of changes to occupancy requirements that the industry has […]
Read More....HOTMA Got You Overwhelmed About a Management and Occupancy Review (MOR)?
Does the new HOTMA final rule have you overwhelmed about an upcoming Management and Occupancy Review (MOR)? Full owner compliance with HOTMA must occur prior to the July 1, 2025. This means owners will have calendar year 2024 to ensure they: understand the regulatory changes, update required policies (spoiler alert – some needed to be […]
Read More....HOTMA Action Items: How to Stay on Track
Greetings DeSilva Housing Group Clients and welcome to 2024! This year is slotted to be a big year with crucial dates and big changes for HUD Multifamily Owners. It will forever be known as “the year of HOTMA implementation”. With all the tasks and deadline dates being thrown around related to Public Housing, Tax Credit […]
Read More....HUD Reinstitutes On-Site MORs
On-Site MORs are back! The Office of Asset Management and Portfolio Oversight published a memo in late October 2023 reinstituting the practice of on-site MOR visits as a required component to Management and Occupancy Reviews (MORs), effective with MORs scheduled on or after January 1, 2024. HUD’s updated guidance does allow for alternative MOR procedures […]
Read More....Hold Your Horses, HOTMA! We Have More Time
At long last, HUD has officially announced that Multifamily owners can implement HOTMA regulations in stages during calendar year 2024. What does this mean? It is not necessarily a simple, short answer. The Final Rule’s effective date remains January 1, 2024. However, HUD has acknowledged how significant of a program shift this will be for […]
Read More....2023 HUD Median Family Income Limits Released
HUD released the official 2023 HUD median family income limits this week, which you can view here. How do median family income limits impact property owners? There are two key things to note: Owners of properties participating in HUD’s Multifamily Housing Programs must utilize these limits when processing Move-Ins and Initial Certifications HUD Form 50059s […]
Read More....TRACS User Re-Certification Due Friday March 10th 2023
TRACS User Re-Certification is Due Friday March 10th 2023. Individuals with access to TRACS in HUD’s Secure Systems are assigned access as either a TRACS Coordinator or a TRACS User. Each year, those that are TRACS Coordinators are responsible for recertifying their assigned TRACS Users. The purpose of the annual user recertification is to ensure […]
Read More....REAC Clarifies Requirement
Earlier this year, we posted an announcement regarding HUD’s new requirement for Owners to install carbon monoxide detectors in all assisted units by December 27, 2022. This week, leadership from HUD’s Real Estate Assessment Center (REAC) clarified that this new requirement does not apply to properties that have no gas-related building systems. In other words, if […]
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