Handling Security Deposits and MOR In Compliance with HUD

Paul Flogstad

Paul Flogstad

Paul has been involved in the real estate industry for the past 38 years. He has been involved in sales, construction, project management, appraisal, mortgage consulting and brokerage, property management and property management consulting/training. Through his consulting company, Property Management Solutions, he provides training and...
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90 Mins
Paul Flogstad

It is very important that security deposits be handled correctly. State laws differ on some aspects, but the basics of security deposits will be covered. Some questions include: How much can I charge, how soon must they be returned. What is normal wear and tear- how to develop a charge list for damages and more related topics.

Join this information-packed webinar by industry expert speaker Paul Flogstad to prepare for a management occupancy review. Reviews are required on an annual basis for each property that is covered by a project-based Section 8 contract. The MOR verifies that property owners and management agents are in compliance with HUD and other federal regulations and their Housing Assistance Payments (HAP) contract. Paul will walk you through all of the steps of the MOR review. By good preparation, you will have a successful MOR.

Webinar Objectives

  • How much security deposit is allowed?
  • How long may I keep the deposit?
  • Can I use first and last month’s rent as deposit?
  • How long do I have to return it?
  • What can be taken out of security deposit?
  • How do I establish charges of items taken out?
  • What is normal wear and tear?
  • What are the steps is handling MOR findings?
  • How do I respond?
  • How long do I have to respond?
  • What is the typical MOR procedure?

Webinar Agenda

During the webinar, Paul will discuss how to handle security deposits correctly and how to be in compliance with HUD guidelines as well as local state rules. This is one of the items covered in an MOR and he'll cover some additional topics that come up in MOR reviews including: 

  • What to expect
  • Tenant Files
  • Questionnaire
  • Physical Inspection
  • The MOR report and findings
  • Other relevant items from HUD handbook 4350.1

Webinar Highlights

What to expect:

  • What is a MOR
  • What is REAC and how is it used
  • Maintenance and Standard operating procedures
  • Leasing and 
  • How to have good tenant files
  • Security of information
  • How-to interpret the results of MOR review

Also covered will be strategies to successfully pass a MOR inspection. Details about what auditors look for, as well as a proper file set up, will be covered.

Who Should Attend

  • Property Managers
  • Property Owners
  • Public Housing Authority Staff
  • Maintenance Staff
  • Compliance staff 
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