The Ins and Outs in Handling Security Deposits and Additional Charges in Addition to Rent (AHAN62L)

  • Product Format
  • Pre Recorded Webinar
  • Presenter(s)
  • Debbie Hixon
  • Conference Date
     
  • Wednesday, November 30, 2016
     
  • Aired Time
  • 1:00 pm ET - 12:00 pm CT - 11:00 am MT - 10:00 am PT
  • Length
  • 60 minutes

Handling Security Deposits in Compliance with HUD and Avoiding MOR Findings.

Since security deposits provide owner/agents with some financial protection when a tenant moves out of the unit and fails to fulfill his/her obligations under the lease, it is necessary to understand what to charge for a security deposit. You also need to know what needs to be done with that security deposit; what needs to be done with interest earned; and what needs to be done with refunding the security deposit, to be in compliance with HUD. Also, any additional charge other than rent needs to be understood as well.

As HUD has started to conduct Management and Occupancy Reviews (MOR’s), these dos and don’ts need to be understood and fully complied with, in order to make sure that there will be a good report on the MOR. As this could result in findings not corrected, HUD may withhold some of your voucher requests, or worse, decide to no longer work with the O/A.

Join expert speaker Debbie Hixon in this webinar to understand the concept of security deposits and how it must be dealt with in compliance with HUD. You will also be able to learn about other associated charges which you as a property owner can ask for from the tenant. Plus, the session will discuss several other useful subjects related to MOR.

Session Highlights

  • When must a security deposit be collected?
  • When tenant’s rent changes, does that change the security deposit as well?
  • Must the whole amount of security deposit be collected at the same time?
  • When must a security deposit be refunded to the tenant?
  • If keeping some of the security deposit or all of it, what must the tenant receive from the Owner/Agent?
  • May an O/A charge a late fee if rent isn’t paid on time?
  • What other charges are allowed during occupancy by tenant?
  • Before charging additional charges to the tenant, what must the O/A do?

Who should attend

Everyone in HUD housing that works with security deposits and additional charges other than rent.

 

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About the Presenter(s)

Debbie Hixon is the president and Owner of Hixon Training & Consulting, LLC with over 25 years in the Affordable Housing Industry.  Hixon travels country-wide to present training on HUD topics.