Social Security Announces 0.3% COLA Increase

Monthly Social Security and Supplemental Security Income (SSI) benefits for more than 65 million Americans will increase 0.3 percent in 2017. See www.ssa.gov for additional information.

The 0.3 percent cost-of-living adjustment (COLA) will begin with benefits payable to more than 60 million Social Security beneficiaries in January 2017. Increased payments to more than 8 million SSI beneficiaries will begin on December 30, 2016.

Information about Medicare changes for 2017, when announced, will be available at www.Medicare.gov. For some beneficiaries, their Social Security increase may be partially or completely offset by increases in Medicare premiums.

Historically, HUD's EIV System does not reflect the change in income until December 30.  Owner/agent completing AR or IR certifications effective in January, February, March or April should refer to HUD guidance found in HH 4350.3 R1, C4, Paragraph 9-6.

The owner must use one of the methods below for determining the tenant's income.

  1. Use the benefit information reported in EIV that does not include the COLA
  2. Use the 2017 SSA benefit, award letter or Proof of Income Letter provided by the tenant that includes the COLA adjustment if the date of the letter is within 120 days from the date of receipt by the owner;
  3. Determine the tenant's income by applying the COLA increase percentage to the current verified benefit amount and document the tenant file with how the tenant's income was determined; (Note from Mary: If your calculation results in a number that includes cents, do not round up or down; use the cents when projecting annual income) or
  4. Request third party verification directly from SSA when the income in EIV does not agree with the income the tenant reports he/she is receiving.
  5. All recertifications effective after April 1 must reflect the SSA benefit that includes the COLA.

Keep in mind, since the publication of the Streamlining Final Rule (effective April 7, 2016), owner/agents may also use the Streamlining Income Determination (verification ) method.  You can refer to the HUDBlast archives and read the HUDBlast issued October 20, 2016 for more information.  http://www.rbdnow.com/hudblasts.htm

Join Mary Ross for Online Training This Fall

Based on popular request, we have scheduled the following classes:

  • EIV Basics and EIV Discrepancy classes,
  • A class to review the effect of disparate impact on how we screen applicants and address criminal activity on the property
  • An advanced AR/IR class and
  • A Section 504 class for those of you who are responsible for addressing concerns and requests from people with disabilities

Join Mary Ross for the following live online training classes. Classes include a training workbook and sample forms and checklists.

Click on the link below for additional information and to register for the class.

New 4th Quarter 2016 Online Training Schedule

Classes Offered

Schedule

EIV Income Discrepancy (Class length 2.5 hours)

October 27, 2016
EIV Basics (Class length 2 - 2.5 hour sessions)November 9 & 10, 2016
Section 504 Coordinator (Class length 2.5 hours)December 8, 2016
Criminal Activity, Screening & Tenancy (Class length 2.5 hours)December 13, 2016
AR / IR & Terminations (Class length 2.5 hours)December 15, 2016

Students who register and attend the entire class will receive a certificate of completion.  Students should register individually.  Confirmations are unique to each student and cannot be shared.

For additional information or to register, visit our web site at http://www.rbdnow.com/onlinetraining.htm 

Training materials and sample forms are provided to facilitate instruction.  Training materials are provided and should be printed before the training begins. 

Instructor-led Training From RBD 

HUD Management & Occupancy Challenge - Only 1 class left in 2016!

Since HUD has indicated that we should expect an increase in the number of Management & Occupancy Reviews (MOR) conducted in 2016, we have created a class to allow owner/agents and property managers to take a step back and review HUD's multifamily occupancy requirements.  This is not a review of basic requirements, but rather a discussion about best practices designed to help you identify common mistakes that may otherwise be revealed during the MOR.

Training includes sample forms, notices and checklists.

Location

Class

Date

SOLD OUT

St. Paul, MN

HUD Management & Occupancy ChallengeOctober 25 & 26, 2016

 

First Quarter 2017 Training Calendar to be released soon!
 

 

To register for training, visit our web site at www.rbdnow.com or contact our Training Coordinator (Larue Marin) at larue.marin@rbdnow.com.

 

To sign up for the HUDBlast, visit our web site at www.rbdnow.com.  Just enter your email address in the box in the center of the home page. You can view previously posted HUDBlasts from our web site at http://www.rbdnow.com/hudblasts.htm

 

We also encourage you to sign-up for the Listserv, so you can receive current RHIIP related information from HUDhttp://www.hud.gov/subscribe/mailinglist.cfm.  You can view the RHIIP Tips Archives, under "Listserv-Multifamily RHIIP Tips" athttp://www.hud.gov/offices/hsg/mfh/rhiip/mfhrhiip.cfm

 

RBD does not act as a legal advisor nor as a regulatory governing agency.  The recipient should understand that any materials or comments contained herein are not designed for, nor should be relied upon as a source of legal guidance or as a final authority with respect to any particular circumstance. Ross Business Development, Inc. makes no warranty of merchantability or fitness for a particular purpose or any other warranty of any type. Owners and management should seek competent legal advice in developing and carrying out policies and procedures.  While we have been diligent in our efforts to provide comprehensive and accurate regulatory information, Ross Business Development, Inc. shall not be responsible for errors or inaccuracies.