The Housing Opportunity Through Modernization Act (HOTMA) was signed into law on July 29, 2016, amending many aspects of Multifamily Housing programs (as well as programs administered through the Offices of Public and Indian Housing and Community Planning and Development). HOTMA was intended to streamline processes and reduce burdens on housing providers.
The changes under HOTMA touch upon multiple areas, including standards for income determination, resident self-certification, and interim re-examinations.
There are a number of changes here that are of a piece. It’s around streamlining and aligning the public housing and multifamily programs, so they will have implications for owners. They will also have implications for residents, overall making things like income determinations and asset tests easier to implement and simpler to do. It will also encourage asset building among residents, to make it easier for them to accumulate wealth and to fulfill the promise that affordable housing has always offered of giving people a platform upon which to build economically.
Why should you attend :
There are numerous changes in this new ruling. We will cover all of the changes which have a positive effect on tenant and the changes make it easier for landlords as it combines other rules into one standard.
All of these changes will be discussed in detail to help you maintain compliance to this program.
Areas covered in the session:
Who should attend:
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. For over twenty years was involved in the appraisal of residential, multi-family, farm, and commercial properties throughout the Midwest.
