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Validity : 13th Apr'24 to 23rd Apr'24
Preparing for a HUD and Tax Credit Audit
Areas Covered During the Session
- We will cover the following topics:
- What to expect
- What is a MOR
- What is REAC and how is it used
- Maintenance and Standard operating procedures
- Leasing and occupancy
- TRACs monitoring and compliance
- How to have good tenant files Security of information
- How-to interpret the results of MOR review
- The layout of the tax credit file
- Differences between tax credit review and HUD MOR
- Hints for a good review
Overview of the webinar
The MOR verity’s that property owners and management agents are in compliance with HUD and other federal regulations and their Housing Assistance Payments (HAP) contract. We will walk you through all of the steps of the MOR review. With good preparation, you will have a successful MOR. Also covered will be reviewed for tax credit properties and how they differ from HUD reviews.
Who should attend?
- Property Managers
- Property Owners
- Public Housing Authority Staff
- Maintenance Staff
- Compliance staff
Why should you attend?
This seminar will help you prepare for a management occupancy review. Reviews are required on an annual basis for each property that is covered by a project-based Section 8 contract. Also covered are the requirements for LIHTC (tax credit) properties. There are different file requirements for tenant files in each respective program.
Faculty - Mr.Paul Flogstad
Paul has been involved in the real estate industry for the past 38 years.He has been involved in sales, construction, project management, appraisal, mortgage consulting and brokerage, property management and property management consulting/training.
Through his consulting company, Property Management Solutions, he provides training and consulting services nationwide to owners, management companies, multi-housing associations, as well as state and federal agencies.
He specializes in fair housing issues and has developed fair housing and outreach programs for governmental agencies as well as conducting seminars which are presented to property management companies, apartment associations and the general public. He also conducts research analysis for impediments to fair housing for grantees of federal CDBG funds.
Most recently, he has been a consultant to the State of South Dakota. In this assignment he has developed a program that is one of the first of its kind in the nation. It involves being an Ombudsman for fair housing issues. In this role he takes calls from anyone who may have a fair housing or landlord tenant question. He attempts to resolve the issue before it has to go to HUD. This has been a successful program and he takes over 900 calls a year.
For over twenty years was involved in appraisal of residential, multi-family, farm and commercial properties throughout the Midwest. Most recently, he was a consultant for affordable, multi-housing properties in 22 different states. This involved properties in HUD, Rural Development, HOME and Tax Credit programs. He is a certified trainer for a national company which specializes in HUD and Tax Credit education.
He holds numerous professional property management designations.Paul has served on numerous boards and commissions that deal with real estate, property management and fair housing issues and is in demand as a speaker in the affordable housing industry.