PURPOSE
Are you confident that your staff understands the complicated Section 8 project-based renewal process? Early planning and preparation are essential! Don’t miss our newest class,
Managing Multifamily HAP Contracts. Nan McKay & Associates is the only training company currently offering this type of training.
Education and preparation are the two key components to ensure a timely and effective contract renewal. Understanding the terms of the initial HAP contract, options available to your specific property, and long term goals for the units are the pillars of a solid contract renewal. Early planning and preparation will provide a seamless and timely submission and review, and will secure a renewed contract without interruption in payments of HAP.
In this class we will cover:
- What is involved in the renewal process
- Submission timing and requirements
- Rent comparability studies
- Rent adjustments during the contract terms
- A detailed review of the six options available to traditional PBRA properties
- Termination of the contract and steps involved
- Residual receipts
- Tenant issues and related required notices
- Physical condition requirements
- Section 8BB transfer of budget authority
- Comparison of the types of assistance at a project
- Rent adjustments
- Section 8 bb transfers
- Tenant issues
- Program compatibility studies
- Residual receipt accounts
We will also walk though a case study of a property ready for renewal and discuss: the process for reviewing the original HAP contract, how to determine what options are available, review of budget and property position, long term goals for the property, and what options and terms might be best.
LEARNING OUTCOMES
Upon completion of
Managing Multifamily HAP Contracts, you
should be able to:
- Identify the key program elements, requirements, regulatory
agencies, and documents used to renew expiring HAP
contracts
- Identify important timeframes and deadlines for submission
of documentation
- Recognize the options for renewal depending on the
contract and each specific property
- Describe each option and the requirements for submission
- Identify the key program elements, requirements, and
regulatory agencies and documents used to request annual
rent increases for contracts still in their term
- Recognize the regulations for production and submission of
rent comparability studies when required for contract
renewal submission
- Describe requirements and timeframes for tenant
notification
- Recognize the eligibility requirements, general
requirements, and submission process for a request of
transfer of budget authority under Section 8(bb) of the
housing code
- Identify the different types of assistance provided to
residents and programs that are tenant-based versus project based
- Recall the process of converting HAP contracts for PRAC,
202/811
- Recognize the process for converting mod rehab properties
through the RAD program to either project-based vouchers
(PBV) or project-based rental assistance (PBRA)
- Describe HUD accounts, such as residual receipts and
replacement reserves, and how they factor into the renewal
and rent adjustment processes
- Recognize the options for rent setting above fair market rent
(FMR) and any special considerations associated
SEMINAR #101-019
AGENDA: View the agenda
METHOD: A group-live seminar featuring PowerPoint, case studies, group discussion, course book, and Q&A
LENGTH: Two days
AUDIENCE: All staff
PROGRAM LEVEL: Basic knowledge of housing programs and issues
PREREQUISITES: None
ADVANCED PREPARATION: None
CREDITS: CPE Units = 17, CEU units w/ exam 8.7
REGISTER: Fill out the
PDF registration form and fax to 619.258.5791. Or select the seminar you'd like to attend from the list of locations and dates below to order online.