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What to Do When a Property Fails a REAC Inspection

When a property fails a REAC Inspection, the property owners and managers often take it personally. It can feel like a gut punch, and often the initial response is defensive. A defensive response is entirely normal; it’s even human. However, this response often gets property owner’s in trouble. So, the question is: what should you […]

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08.05.2020
Amanda Gross | HUD and Tax Credit Compliance

HUD Publishes Updated COVID-19 Q&A 7/31/20

On July 31, new HUD Updates for Coronavirus were released in an updated COVID -19 Q&A.  In this update, in addition to updating a few existing answers, HUD also added four new questions and answers. Testing and Face Masks HUD addressed whether or not owner/agents can require applicants/tenants to be tested for COVID-19, and also discussed […]

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07.27.2020
John Broderick | HUD and Tax Credit Compliance

The Return of HUD MORs During COVID-19

If you thought that the COVID-19 shutdown would cause your HUD Management Occupancy Reviews (MORs) are postponed indefinitely, you should think again. HUD has directed PBCAs (Project Based Contract Administrators) to continue their work plans regarding completion of MORs for operators of project-based Section 8 and other developments. The MORs must include a physical inspection […]

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07.09.2020
Scott Precourt | HUD and Tax Credit Compliance

HUD Provides Outline of a Return to MORs

On June 23, 2020, HUD released a memorandum titled “Status of Management and Occupancy Reviews performed by PBCAs,” which outlines the resumption of Management and Occupancy Reviews (MORs) of Multifamily HUD Properties.  This memorandum is a supplemental addition to the HUD memo dated 5/22/2020, which generally lifted the suspension of MORs, subject to local restrictions. […]

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07.09.2020
Amanda Gross | HUD and Tax Credit Compliance

IRS Notice 2020-53 Provides Temporary Relief for Tax Credit Housing Programs

This month, the IRS published IRS Notice 2020-53 to provide temporary relief to LIHTC and Tax-Exempt Bond owners by further extending deadlines and granting additional relief for other certain compliance requirements. In April of this year, the IRS published IRS Notice 2020-23. While Notice 2020-23 did not specifically mention Section 42 of the IRC, it […]

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07.09.2020
Scott Precourt | HUD and Tax Credit Compliance

Changes to Processing Vacancy Special Claims During COVID-19

On July 6, 2020, HUD released a memo titled “Processing of Special Claims for Vacancy During the COVID-19 Pandemic“. Due to workplace restrictions and stay-at-home orders during this pandemic, multifamily housing managers are experiencing issues with routine activities such as preparing the unit for occupancy,  showing units to prospective tenants, and processing documentation to determine […]

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07.06.2020
Scott Precourt | HUD and Tax Credit Compliance

CARES Act Moratorium on Eviction to End July 24, 2020

On July 1, 2020, HUD released Notice H 20-07 which addresses the CARES Act eviction moratorium which was signed into law on March 27, 2020, and extended for 120 days. This notice extends the moratorium on evictions for non-payment of rent at HUD financed properties currently under a forbearance agreement and clarifies that other HUD […]

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