Handling Security Deposits and MOR in Compliance with HUD
Apr 13, 2022
90 Mins
Paul Flogstad
It is very important that security deposits be handled correctly. State laws differ on some aspects, but the basics of security deposits will be covered. Some questions includes: How much can I charges, how soon must they be returned. What is normal wear and tear- how to develop charge list for damages and more related topics.
This webinar 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. 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. By good preparation you will have a successful MOR.
Will discuss how to handle security deposits correctly and how to be in compliance with HUD guidelines as well as local state rules. This is one of the items covered in an MOR and we will cover some additional topics that come up in MOR reviews.
This webinar will cover:
What to expect:
Also covered will be strategies to successfully pass a MOR inspection. Hinks about what auditors look for as well as proper file set up will be covered.
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 City of Sioux Falls and the State of South Dakota. In this assignment he has developed a fair housing awareness program that is one of the first of its kind in the nation. It involves a three pronged approach to fair housing awareness. This approach makes use of an ombudsman concept and has proven to be very effective in dealing with discrimination and landlord/tenant issues.
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.
Paul was previously Vice President of the South Dakota Multi-Housing Association, Vice Chairman of the Minnehaha County Housing and Redevelopment Commission, and Chairman of the Sioux Falls Property Appeals Board. In 2009, he received the Outstanding Educator of the Year award from the South Dakota Multi-Housing
567 Oaklynn Ct, TB, Pittsburgh, PA 15220
+1 (814) 343-0717
support@compliancebeacon.com
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