This week’s TuesdayTip: HOTMA Tidbit our Summer series continues with the document changes coming under HOTMA.
HUD is updating the following forms to reflect required changes under HOTMA:
- HUD–50059
- HUD-50059A
- HUD 9834
- HUD Model Leases
- Resident Rights and Responsibilities Brochure
- HUD Handbook 4350.3
HOTMA will also use the software TRACS 203A. Please contact your vendor or provider to make sure your software will be up to date.
Owners Agents will need to create or update the following forms to adhere to HOTMA:
- Operating Policies & Procedures
- Tenant Selection Plan
- Applications
- House Rules
- Re-exam Questionnaires
- EIV Policy & Procedures to include the EIV Income use policy
- Section 8 Student Verification Forms
- Asset Self Certification Forms
- Disposal of Asset Forms
- Lease Announcement Letters
- Hardship Exemption Policy
- Policy on Homeownership Exemption
- Rules for the $100,000.00 Asset Cap
- Policy on definition of personal property
We will update you with HOTMA Tidbits as these documents are released.
