Imagine - not having to transmit certs, process vouchers or reconcile payments with HUD or your Contract Administrator each month... what would you do with all that time?
Outsourcing your monthly TRACS/Voucher/MINC processing to PMCS gives you the expertise of AHM/COS certified staff at a fraction of the cost of hiring and training your own experts. Our staff includes Certified Public Accountants and leading industry trainers, all of whom have thorough knowledge of HUD, TRACS, EIV, occupancy issues, contract administration and the 4350.3 Handbook.
Whether you’re a site, management company or contract administrator, we can help. Using a Service Bureau provides an extra quality check, gives your staff professional compliance resources, and allows more time for your staff to handle on-site management tasks.
HUD Compliance Processing
PMCS will: process your tenant 50059 certifications; transmit your tenant certifications and vouchers electronically to TRACS; provide recertification reminder and rent change notices; provide initial notices at move-in and annual recertifications; monitor your compliance percentage; reconcile your monthly voucher with HUD or your Contract Administrator; and review and correct all TRACS error messages.
Rural Housing Compliance Processing
PMCS can transmit your Tenant Certs electronically to MINC, verify your monthly worksheet and request your monthly payments.
Certification Packet Creation
With our certification packet service, PMCS will create a customized packet of necessary tenant documents for all move-ins, annual recertifications and interim recertifications. The forms in the packet will be personalized with your property information, and will be sent out 120 days prior to tenant annual recertification dates, or as requested for move-ins or interim recertifications.
Verification Review
Upon receiving a complete tenant packet, PMCS will complete a Compliance Verification Review in accordance with HUD’s current 4350.3 regulations. This entails verifying and calculating each tenant’s information provided by the site manager, including: income, assets and deductions on all certifications.
Resident Receivables
We can process your monthly resident receivables and provide reports, handle daily tenant bank deposits and process monthly HAP receivables.
EIV Monthly Reports
PMCS can take the time and hassle out of pulling all the required EIV reports for your site(s) for you! Each month PMCS will download and email with encryption, EIV Reports as specified in your EIV Policies and Procedures.
Tenant Bank Deposits
Tenant checks may be mailed or delivered by the property manager to the PMCS office. (Tenants should not contact or visit PMCS directly. All tenant contact must be with the property manager.) PMCS will be responsible for depositing tenant payments into a financial institution of your choice. The deposits may be made via check scanning equipment, if available, or in person, provided there is an office for your chosen financial institution in close proximity to our office. We ensure that strong internal accounting controls are in place, including segregation of duties for audit purposes.
Accounts Payable (Check Writing)
PMCS can prepare your monthly cash disbursements (pay your site invoices from your checkbook).
General Ledger
PMCS can prepare your general ledger and quarterly financial statements. We can also perform pre-audit preparation work needed for your annual financial audit that HUD requires, and assist the auditor during the audit.
Special Claims
PMCS can prepare and submit special claims for vacancies and/or damages, working with the owner/agent to gather required information.
Call us to discuss your site’s needs, and let us prepare a customized proposal.
