Services
Get a Better MOR Score
A poor MOR score (Below Average or Unsatisfactory) can affect a property and its Owner's and Agent's business aspirations for years to come. As interest rates fall, more Owners are requesting HAP Assignments or refinancing an existing mortgage; a poor MOR score can derail a request if both the Owner and Agent get flagged for non-compliance with the HAP Contract and Regulatory Agreement. Owners and Agents may be prevented from taking on new HUD properties while these flags are in place. The best way to avoid a poor MOR score and a compliance flag is to prepare in advance by hiring someone who has done over 150 MORs to review compliance and business documents.
Personalized Assistance for PRACS
Far too often, I witnessed non-profit Owners with Project Rental Assistance Contracts (PRAC 202/811) leave money on the table by not requesting their annual Budget-Based Rent Increases and Utility Allowance Adjustments. Frequently PRA Owners & Managers wouldn't ask for annual increases because they didn't know how or didn't know they could. This practice would typically impact other parts of the non-profit’s mission causing funds for other initiatives to be redirected, or affect the property itself with delayed or deferred maintenance. Since HUD changed PRAC Contract Renewal and Rent Increase guidance in 2022, Owners and Agents may be confused with new submission timings and increase eligibility. I can help you with the submission of the BBRI and UA to get the rents your property needs.
Benefits of a File Audit
If you're an Agent who has recently added new properties to your portfolio, a spot-check or 100% file audit can keep a prior Agent's mistakes from becoming yours to fix. I've done a few MORs where an Agent had recently taken over management of a property and they were not aware of how much was missing from the tenant files. Site staff already has enough day-to-day to do and don't have the time to audit all the files within the 30 day Corrective Action time frame the PBCA or HUD staff will impose following an MOR. Let me audit your files, to keep your staff free to assist residents and the manage the property.
Other Services
Additional services include review of HAP Assignment transaction, Capital Expense Analysis, Budget Analysis, Option 4 Lesser Of Test (Contract Renewals), Change of Management Agent (2530), Special Claims, RAD for PRAC Conversion consultation, and general HUD compliance.