All the financing resources you need under one roof

First Housing mobilizes capital to finance multifamily housing in the state of Florida and beyond.


Learn moreArrow

Place your confidence in first housing.

We provide easy and reliable tenant compliance monitoring and top notch training. Complying with public agencies' multifamily housing requirements isn't always easy, but it is familiar territory for First Housing.


Learn moreArrow

Manage the financing process with intelligence and ease.

We help lenders and investors make sound decisions by proving underwriting, financial analysis, servicing and loan administration services.


Learn moreArrow

First Housing University

Dedicated to enhancing knowledge of affordable property compliance with web courses, workshops, workshops, and personalized training.


Learn moreArrow

Preparing For a Management Review

Posted on: March 19th, 2014 by Sebrina Darby No Comments

So, the infamous day has arrived.  Compliance monitors are arriving at your property within minutes. You’ve known for approximately a month.  So, what should you have prepared to make this day run smoothly? This may not be an exhaustive list; however, below are items that monitoring agents may need to complete a management review. Please check with your state agency to see what, if any, requirements may be different.

1.     First and foremost, the list of files is very important. You will be given this list upon the agent’s arrival. It’s a good idea to provide some files for the monitor to get started.  It is expected that the property will pull and deliver all files in a timely manner as the day of the review is not the time for you to review the files.
2.    The current and last year’s Utility Allowance (HC/HOME).  If the Utility Allowance has not changed, please state the date and who you spoke with to verify the information.
3.    Completed questionnaire.
4.    Current  and accurate rent roll.
5.    Updated Program Report that matches the rent roll and the Tenant Income Certifications.
6.    Updated contact sheet.
7.    Advertising.
8.    Copy of lease and application.
9.    MOU (TCAP/TCEP).
10.   AFHMP (HOME/HUD Risk Sharing).  Include advertising.
11.   Marketing Plan (HUD Risk Sharing; and if the property document requires one).
12.   REAC Inspection (HUD Risk Sharing).
13.   Tenant selection criteria.
14.   List of vacant units.
15.   Pull keys as soon as monitor provides list of units to be inspected.
16.   Notify monitor if any units have had bed bugs.
17.   Inform monitor if any units are down.
18.   Provide work orders for any deficiencies corrected during the inspection, if possible.
19.   Homebuyer’s Program: Inform agent if anyone took advantage of the program during the past 12 months.
20.   Ledgers.
21.   Next Available Unit Documentation (LIHTC).
22.   Waiting list.
23.   Documentation of required tenant programs and services (check the property’s document(s) to determine the specific requirements). Tenant programs and services should include at least a flyer advertising the event, date, time, and list of residents who participated in each event.
24.   Know unit’s square footages. Don’t guess. Check the property documents.  If there is a difference, determine why and take steps to resolve differences with your State agency.
25.   Exiting interview may be conducted several ways. Monitor may go through the discrepancies/deficiencies noted to inform you of what to expect when report is received. Or, the monitor may inform you that a report will be provided within 30 days.
26.   Please do not send corrections until the review findings are sent to you. Include work orders or any backup requested. Please do not add additional statements to the review. Respond to the specifics of the review.
27.   Answer your phone on review day. It may be the monitor asking for directions!

See you next year (or the third year if LIHTC)!


Leave a Reply

© Copyright 2020 First Housing FL. All rights reserved. 107 S. Willow Ave. | Tampa, FL 33606 | mail@firsthousingfl.com | Privacy Policy

Skip to content