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Affordable Housing Industry Updates, Changes to HUD, LIHTC, REAC, and USDA/RD Requirements
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President Biden Introduces Blueprint for a Renters Bill of Rights
NONBINDING DOCUMENT INTENDED TO STRENGTHEN TENANT PROTECTIONS AND ENCOURAGE RENTAL AFFORDABILITY Thirty-five percent of Americans—44 million households—rent their homes. In recent years—in the face of the COVID pandemic and unprecedented demand, rents have risen considerably. From 2017 to 2022, the average year-over-year increase in rent was 5.77% nationwide, with the biggest increase occurring from 2021 to […]
Read MoreNew Smoke Detector Requirement for Assisted Housing Properties
NEW REQUIREMENTS FOR SMOKE ALARMS IN FEDERALLY ASSISTED HOUSING ARE EXPECTED TO SAVE LIVES On Jan. 5, 2022, a massive fire consumed a public housing unit in the Fairmount section of Philadelphia. The blaze took the lives of three sisters and nine of their children. Of the seven smoke alarms in the rowhouse, only one […]
Read MoreNSPIRE Demonstration Inspections to Receive Scores as of April 1st
HUD released an update to the Federal Register on January 24, 2023, which is scheduled to be officially published on January 25, 2023. In this notice, [Docket No. FR-6160-N-03], HUD clarified the following: Through this notification, HUD is informing Multifamily Housing program participants who are currently in this demonstration and have yet to receive an inspection of […]
Read MoreHUD NSPIRE’s Impact on HOME, Housing Trust Fund, CPD, and LIHTC Programs
On October 1, 2023, the NSPIRE (National Standard for Physical Inspection of Real Estate) Inspection Protocol is scheduled to replace UPCS and HQS as the inspection protocols used on Multifamily and Public Housing HUD Inspections. Ending these decades-old inspection protocols and combining them into a single standard for both risk-based and results-based inspections will have […]
Read MoreTemporary Exception for USDA/RD Interim Recertifications
Dramatic Cost of Living Adjustment (COLA) for 2022 Cost of Living Adjustments (COLA) was announced on On October 13, 2022. The Social Security Administration announced an 8.7% COLA increase for Social Security beneficiaries beginning January 2023. This has been the largest increase since 1980 when the COLA was a remarkable 14.3%. Under the current RD […]
Read MoreAll REAC Inspections to use NSPIRE Standards Starting October 2023
HUD’s NSPIRE changes to REAC are on pace to roll out as of October 1, 2023. On October 19th, our Founding Partner, Scott Precourt, participated in a panel discussion at the NLHA Conference in Washington, DC, and received an update on the demonstration program. The Deputy Assistant Secretary of HUD REAC shared NSPIRE’s advancements through […]
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