With the signing of the Housing Opportunity Through Modernization Act (HOTMA) on July 29, 2016, multifamily housing programs (as well as those run by the Offices of Public and Indian Housing and Community Planning and Development) underwent a number of modifications. The goal of HOTMA was to reduce requirements for housing providers and expedite procedures.
The changes to HOTMA have an impact on a number of areas, such as interim re-examinations, resident self-certification, and income determination requirements.
Here are a few changes that are all related. The alignment and streamlining of the multifamily and public housing programs will have an impact on owners. Additionally, they will affect the inhabitants, generally simplifying and making procedures like asset tests and income determinations easier to administer. Additionally, it will facilitate tenants' asset creation, which will make it simpler for them to amass wealth and realize the promise that inexpensive housing has always held—namely, providing a foundation for people to grow 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 tenants, and the changes make it easier for landlords as it combine other rules into one standard.
All of these changes will be discussed in detail to help you maintain compliance with 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 and training. Through his consulting company, Property Management Solutions, he provides training and consulting services nationwide to owners, management companies, multi-housing associations, and 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.
