Understanding and implementing HOTMA changes before we begin creating 2024 certifications is a real challenge. We start creating 1/1/2024 ARs as early as September.
While we know this is going to create work and we know any change introduces stress, I want to emphasize the positive changes introduced by HOTMA in the hope that this will make the transition easier. You'll receive a HUDBlast every few days providing information about how HOTMA will make our jobs easier.
Be sure to sign up for the HOTMA OnDemand Training and the HUD Today 2023 Online class for more in-depth instruction.
HOTMA Positive Change 1 - HOTMA changes rules about Interim Recertification. Starting 1/1/2024, when a resident reports an income change, owner/agents are required to complete an IR only when:
This means the debate about the "$200 per month rule" will finally be over. Yay.
In addition, owner/agents are not required to complete an IR when a resident reports an income change that occurred within three (3) months of the next AR Due Date.
Thanks, HUD!
We have released the RBD OnDemand Training - HOTMA - Multifamily Housing, which gives industry stakeholders a high-level overview explaining HOTMA changes that affect MFH programs.
Be sure to check it out HERE.
We recently announced our HUD Today 2023 Online Training Workshop schedule. Mary is back to:
Be sure to register now before classes sell out!
We've also added a new HOTMA Resources page which will be updated as HUD releases clarifications and we develop new Resources for our customers.
New HOTMA FASTForms Coming Soon!!