Blog
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 and HUD Multifamily Programs, we are fielding several questions from clients about the status of new HOTMA policy orders and when to expect deliverables. Here […]
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 to be followed in the event state/local laws, health codes, or other health and safety issues at the property prevent or prohibit a PBCA from […]
Read More....HOTMA Got You Overwhelmed About 2024 Management and Occupancy Review (MOR)?
Does the new HOTMA final rule have you overwhelmed about the 2024 Management and Occupancy Review (MOR)? As announced in HUD’s Housing Notice 2023-10, HUD’s supplemental guidance to the HOTMA final rule, full owner compliance with HOTMA must occur prior to the January 1, 2025. This means owners will have calendar year 2024 to ensure they: understand the regulatory changes, update required policies (spoiler alert – some need to be updated by the end of March 2024!), notify tenants about what’s […]
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 all stakeholders. Implementation will be an ongoing process that occurs during 2024, culminating in a final new implementation deadline of December 31, 2024. When your […]
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 seen in over a decade, so it makes sense that there is confusion and trepidation. However, it’s important to recognize that HOTMA does bring several […]
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 units at your site, you’ll need to correctly incorporate HOTMA requirements. While identifying and learning how to implement these changes can be scary, in the […]
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 effective May 15, 2023 or later. Owners must verify the appropriate income limits are loaded into their compliance software. These income limits for HUD programs […]
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 those individuals with access actually need access to this sensitive information in order to complete their job duties. This annual recertification task is different from […]
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 all components of the property are run exclusively by electric power, carbon monoxide detectors are not required. Owners must carefully evaluate all components of building […]
Read More....HUD Manager Occupancy Workshop – Live Seminar
Are you a new HUD multifamily manager OR a seasoned manager looking to build upon your occupancy skill set? Have you recently undergone a RAD PBRA conversion? If so, this is your class! During this LIVE and IN-PERSON two-day workshop we will cover the following topics: How compliant is my interview process? Are my forms effective in capturing necessary information? Is my interview process organized and efficient to result in timely certifications? Am I identifying and verifying income, assets, and […]
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