If you own or manage an assisted site, you must have a written resident selection plan that incorporates the policies and procedures covering each step of the selection process. And your plan must comply with HUD’s eligibility, admission, and screening requirements [HUD Handbook 4350.3,...
On May 20, the Federal Register published an updated list of income exclusions specifically mandated by federal laws. There are three new exclusions and changes to two of the existing exclusions, and due to the addition of Exclusion (16), the exclusions following it have been renumbered.
As a site owner or manager, you understand the severe financial consequences that can result from things beyond your control, such as a loss due to fire, flood, weather, or other causes. In addition, whether it’s a legitimate claim or not, you could also face expensive legal difficulties...
HUD requires most assisted housing sites to maintain a reserve for replacements account so funds are readily available to pay for repair and replacements of major systems and capital items. These are items that usually last more than one year, such as elevator systems or major appliances in...
When certifying or recertifying households, you may occasionally encounter a household member who earns income from a self-owned business. For example, a household member may own a small retail store or hair salon, be a computer consultant or house painter, or own and run a daycare center or...
Over 20,000 multifamily housing program participants are required to submit annual electronic financial statement data to HUD for assessing the financial condition of multifamily housing sites. On Feb. 14, 2014, the Real Estate Assessment Center updated its Financial Assessment Sub-System to...
Many management companies charge employees’ travel expenses to site operating accounts. Travel expenses to visit sites, meet with owners, and attend training are allowed because charges involve work-related travel by employees who perform such frontline tasks as certification, accounting,...
The federal Fair Housing Act (FHA) clearly bans intentional discrimination against applicants and others because of a protected characteristic such as race, color, religion, sex, national origin, familial status, or disability. Courts often refer to claims for intentional discrimination as...
Once a household has moved out of an assisted site and the unit is ready for reoccupancy, owners and managers can ask HUD to pay part of the contract rent for the vacant unit until a new eligible household moves in. HUD recognizes that owners have a potential financial risk due to limitations on...
Some of your households may have unreimbursed medical expenses that include travel expenses to and from treatment. And if any of these households are classified as elderly or disabled, HUD permits a medical expense deduction to be used to calculate their adjusted annual income. So be sure these...
As an assisted site owner or manager, you must collect security deposits from all households when they move in. The security deposit is a dollar amount that’s intended to protect you by covering damage to the premises beyond normal wear and tear, and by cushioning the financial blow if a...
Along with the cold weather comes the risk of carbon monoxide (CO) poisoning. CO is a colorless, odorless gas that kills an estimated 1,000 people each year, according to the National Safety Council.
