Handling Security Deposits and MOR in Compliance with HUD

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Duration : 60 min





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An Owner/Agent (O/A) must understand what to charge as security deposit to a tenant moving out of a housing unit as it represents a financial protection in the event that a tenant defaults on their obligation of their lease. You must also be aware of what to do with that security deposit, the interest earned and refunds to be in compliance with the HUD (US Department of Housing and Urban Development). Any additional charges is also to be considered. 

Talking Points Regarding Security Deposits:

.  When is a security deposit to be collected? 

.  How much security deposit is allowed? 

.  How long may I keep the deposit?

.  Can I use first and last month’s rent as deposit?

.  How long do I have to return it?

.  What can be taken out of security deposit?

.  How do I establish charges of items taken out?

These ensure that there will be a good report on the Management and Occupancy Review (MOR). Consequences of a bad report could result in HUD withholding some of your voucher requests,or worse, decide to no longer work with the O/A.

MOR is conducted as a part of the HUD’s regulatory oversight and is the key tool for monitoring how well a Section 8 property is attaining their goals. MOR’s are needed to make sure that the HUD’s multifamily housing programs are regulated as required by identifying the flaws to eliminate waste, fraud and mismanagement.

As MOR is returning this year, O/A not having an MOR in the past 5 years should expect one now. 

TalkingPoints Regarding MOR: 

.  What is normal wear and tear?

.  What are the steps in handling MOR findings?

.  How do I respond?

.  How long do I have to respond?

.  What is the typical MOR procedure?

Join us with expert Paul Flogstad in this webinar to understand the concept of security deposits and how it must be dealt with in compliance with HUD. In addition, you will also get advice on MOR, its findings and how to achieve a good rating. He will discuss “real world” scenarios and options that may occur for any non-compliance items.

Who Should Attend:

.  Property owners

.  Property managers

.  Leasing Agents

.  Compliance Staff

.  Housing Authority Staff

 









































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