HUD Releases Key HOTMA Training Videos and Resources for Multifamily Housing Compliance Owners and agents now have access to new HOTMA training videos. The U.S. Department of Housing and Urban Development (HUD) has curated a selection of essential training videos and resources. The department designed the training to clarify the updates and facilitate a smooth transition to the new regulations introduced by HOTMA Sections 102 and 104 and the Final Rule, effective February 2024. Access Essential Guidance on Notice H2023-10 Implementation HUD’s resources offer comprehensive insights into the pra ..read more

Significant changes to HUD insurance deductibles seek to address challenges in the insurance market due to weather conditions. The U.S. Department of Housing and Urban Development (HUD insurance decutibles The agency is responding to the growing severity of weather patterns and their challenges in the insurance market. The memo states that “insurers are less willing to underwrite a casualty insurance policy” with the current $50,000 or 1% deductible with a maximum of $250,000. New HUD insurance deductible requirements would be the greater of $50,000 or 5% of the insurable value per location. T ..read more

We are all guilty of answering a call from a number we don’t recognize. We probably start the conversation with the unknown caller with a simple “hello.” Quickly, a voice you don’t recognize says “Can you hear me?” Before you think, you’ve likely already said yes. According to the Better Business Bureau, what seems like simple human nature could be the beginning of a scam setup. How this Scam Works The BBB says the voice on the other end is likely a robocall recording the conversation. More troubling, they say that a simple yes can be edited to make it sound like you authorized a major purchas ..read more

HOTMA Implementation is well underway at multifamily properties across America. While working to remain in compliance can be stressful, there is a lighter side to the new rule. In this week’s #TuesdayTip, Corporate Trainer Vickie Bell shares some of the bright spots of HOTMA Implementation. As Vickie shares, she is most excited about no longer having to complete an EIV discrepancy report. Scroll down for her complete list of the lighter side of HOTMA. Now, owners only have to obtain one bank statement for checking asset. Also, only two consecutive pay stubs are required to verify income und ..read more

Millions of low-income families across America will soon lose the benefits of the Affordable Connectivity Program. The Affordable Connectivity Program (ACP) started during the COVID-19 Pandemic offering broadband discounts to more than 23 million households. Broadband Benefits Ending As of now, Congress hasn’t renewed funding for the ACP program and funds are drying up. April marks the last month the program will offer full benefits. The FCC says by May only 46% of the usual assistance will be available. Without action from lawmakers, the program will shut down. Now, these families face steep ..read more

April is National Fair Housing Month. President Lyndon B. Johnson signed the Fair Housing Act into law on April 11, 1968. That is 56 years ago today! Now is the time to reaffirm our commitment to equitable housing for all. Navigate Affordable Housing Partners is proud to share this year’s NFHM newsletter. We have focused on HUD’s theme for NFHM 2024, “The Act in Action.” With that in mind, we have included information that benefits residents and housing professionals. The main topics of this year’s National Fair Housing Month newsletter include: Understanding Your Rights as a Resident: Fair ..read more

What Salary is needed to live comfortably in 2024? A new study from SmartAsset zeros in on how much it takes to maintain a comfortable lifestyle across 99 U.S. Cities. It may come as no surprise, the costs are steep as rent costs and mortgage rates both remain high. Central to the study is the endorsement of the 50/30/20 budgeting principle as a pathway to financial wellbeing. This approach advises dedicating 50% of one’s income to essential needs such as housing, groceries, and transportation. Another 30% is allocated for personal desires, including leisure activities and hobbies, with the re ..read more

In this week’s #TuesdayTip, Corporate Trainer Vickie Bell responds to the most asked HOTMA related questions. HOTMA Questions Q: Should Owner Agents notify residents on waiting lists of the new changes? If so, where do we begin? A: According to Vickie, there is currently no HUD requirement to do so. However, it is suggested to let recent applicants know when they receive an application. Perhaps it is time to purge waiting lists for your properties. As you go through this process inform them of HUD changes since the submission of the original application. You can always text, call, e-mail, or ..read more

The Department of Housing and Urban Development (HUD) has announced the 2024 Annual Adjustment Factors (AAFs) for the fiscal year. This notice is important for owners participating in HUD’s Section 8 housing assistance payment programs. It outlines the adjustments to monthly rentals for units covered by the contracts. Understanding the 2024 AAFs The 2024 AAFs are effective April 1, 2024. HUD bases the factors on the latest Bureau of Labor Statistics (BLS) Consumer Price Index (CPI) survey. The department’s formula incorporates residential rent and utility cost changes. This methodology ensures ..read more

SOI discrimination is illegal, and HUD has launched a new website to combat source of income discrimination. The website provides a comprehensive resource for families using Housing Choice Vouchers (HCVs). This initiative is a testament to HUD’s commitment to breaking down barriers to affordable housing. The move helps ensure that no individual or family is denied housing opportunities due to the source of their income. What is SOI Discrimination? SOI discrimination occurs when landlords, owners, and real estate brokers refuse housing to qualified tenants because they rely on HCVs or other pub ..read more