HOT TOPICS MORS & REAC INSPECTIONS MULTIFAMILY CORONAVIRUS Q & A
HUD postponed MOR and REAC inspections. HUD released this decision on March 13, 2020, and updated it on the 16th, saying, "Until further notice, Multifamily is postponing all REAC property inspections and Management and Occupancy Reviews for all Multifamily properties. Where there is an exigent circumstance or reason to believe that there is a threat to life or property at a specific location, inspections will be conducted by HUD quality assurance inspectors in compliance with CDC guidelines."
COVID-19 & ARs AND IRs HOW COVID-19 IMPACTS RECERTIFICATIONS
The housing industry has had to be creative in areas where things like quarantines and social distancing limit us. This video discusses how COVID-19 impacts the re-certification process. Navigate released it on March 31, 2020. Get the latest update on HUD's Multifamily Housing page.
EVICTION MORATORIUM
CORONAVIRUS AID, RELIEF, AND ECONOMIC SECURITY ACT
Evictions are temporarily suspended on certain "covered properties." The Eviction Moratorium appears in section 4024 of the newly signed CARES Act. This temporary eviction moratorium lasts for 120 days, starting March 27, 2020. Learn more about the guidelines in this video.
ARE STIMULUS CHECKS INCOME? HOW TO TREAT THE CARES ACT STIMULUS CHECKS.
Your residents may have started receiving stimulus checks this week. Watch this video to determine how you should treat the influx of cash.
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