The Trainer — June 2017

Handling Security Deposits Properly

In this month’s feature, we gave you eight rules to follow to avoid making common mistakes when handling security deposits. HUD imposes strict requirements on how you collect and maintain security deposits. When HUD auditors visit your site, they will check that you have followed various rules. And if auditors find that you have not followed the rules, you could be charged with serious offenses, such as “equity skimming” and “misappropriation of funds.”