The Enterprise Income Verification (EIV) system is a web-based computer system implemented by HUD that owners have been required to use since January 2010. It contains employment and income information on individuals participating in HUD’s rental assistance programs. It derives data from...
On Aug. 12, HUD issued a new Real Estate Assessment Center Compilation Bulletin that supersedes all previous editions and any preceding separate guidance. The bulletin provides updated guidance to Real Estate Assessment Center (REAC) inspectors, answers some of the most common questions received...
When applicants approach the top of the waiting list, you must meet with them to certify their eligibility for housing assistance. HUD requires managers to cover a long list of topics during the initial certification meeting. But site staff may be poorly prepared or may not cover all the...
The departure of a household member can bring about changes that affect a household’s subsidy as well as other aspects of its placement at your site. HUD expects you to stay on top of such changes so that your households are paying the correct amount of rent and your assisted units are...
After years of having a closed waiting list, your site may find itself having enough vacancies to open waiting lists again. HUD allows a site to close waiting lists in the first place for one or more unit sizes when the average wait is excessive, such as one year or more [HUD Handbook 4350.3,...
Dealing with the death of a resident is an understandably difficult task for any site manager. The manager must be sensitive to the fact that the family is grieving the loss of a loved one, busy with funeral arrangements, and handling the financial affairs of...
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...
