Q & A: Compliance
Question: We received the following finding in our recent MOR: “The tenant’s SSN Benefits Claim Number was missing from the 4/1/11 MI 50059. The number is required when the tenant’s Social Security ...
Q & A: Compliance
Question: When I see a Y for buy-in on the EIV, that means I don’t give the tenant credit for medical deductions, right? Jackie in Atlanta
REAC Holiday Hours and FASSUB User Guide Changes
REAC has released its holiday hours and has requested that inspectors not schedule or conduct inspections on a federal holiday or on a weekend. They also requested that the following dates be “blacked ...
August 3, 2012 in Certs/ 50059s (Including income/assets/expenses), Expense Calculations, Tenant Income
New Income Exclusions: Update your 4350.3
HUD published “Federally Mandated Exclusions from Income” (Docket No. FR–5635–N–01) in the Federal Register on July 24, 2012. Be sure to update Exhibit 5-1 (Income Inclusions and Exclusions) in your ...
HUD and Bed Bugs
The horror stories about bed bug infestations continue to multiply. Now we have improved guidance for addressing this problem, which has cost properties hundreds of thousands of dollars. It has affe ...
Q & A: Compliance
Question: I have someone transferring into a bigger unit on June 1st. They previously had a 6/1 IR to add income, and the IR was transmitted to TRACS last month. Should I send a transfer cert for Jun ...
Q & A: Compliance
Question: All EIV users have to pass the online security test for EIV. But how do our users who don’t use EIV online get into it to take it? ~Muriel in SC
Children Affected by Foreclosures in Rental Properties
Over 3 million children in rental housing - and that includes apartments - have been affected by the foreclosure crisis. Add to that over 5 million children who have been victims of foreclosure of ho ...
The Work Number – Fees are Here to Stay
During recent TRACS Industry Meetings, owner/agents let Policy know that properties are being charged a fee to use The Work Number. Previously free, this service provided wage verification, which was ...
Hurricanes and Other Disasters
The season is upon us early and it is active. It’s time to check your disaster plans for hurricanes, tornadoes, flooding, hail storms and heat. Any of these can be disastrous for your properties. Pre ...