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Handling Security Deposits and MOR in Compliance with HUD
Handling Security Deposits and MOR in Compliance with HUD
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.
Webinar Objectives
- How much security deposit is allowed?
- How long may I keep the deposit?
- Can I use first and last month’s rent as deposit?
- How long do I have to return it?
- What can be taken out of security deposit?
- How do I establish charges of items taken out?
- What is normal wear and tear?
- What are the steps is handling MOR findings?
- How do I respond?
- How long do I have to respond?
- What is the typical MOR procedure?
Webinar Agenda
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
- Tenant Files
- Questionnaire
- Physical Inspection
- The MOR report and findings
- Other relevant items from HUD handbook 4350.1
Webinar Highlights
What to expect:
- What is an MOR
- What is REAC and how is it used
- Maintenance and Standard operating procedures
- Leasing and
- How to have good tenant files
- Security of information
- How-to interpret the results of MOR review
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.
Who Should Attend
- Property Managers
- Property Owners
- Public Housing Authority Staff
- Maintenance Staff
- Compliance staff
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...
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