An inspection of the MOR is conducted by a government organization or housing authority. A primary goal of MOR is to make housing safe, decent, and sanitary for citizens of the United States. Management and occupancy review aims to protect FHS funds, and ensure that those in need have access to housing. It is ensured by regular checking and reviewing properties.
MOR also assures complete compliance with HUD laws as well as the financial and physical well-being of the homes. A landlord must set up his documentation and records in a way that complies with MOR inspection requirements. Property owners must maintain thorough records of the maintenance and occupants of their premises. The MOR process is guided by HUD form 9834.
Here are five documents that property owners should keep handy during MOR:
1. Lease Agreement documents: As the rental owner you should be ready with the proper copy of files of all your tenant’s lease agreements documents. It includes the rental amount, lease start and end dates, security deposit, and any rules or regulations tenants must adhere to. In MOR inspections, the lease agreement can be used as evidence of compliance with regulations.
2. Inspection reports documents: Regular inspections of the property and units are necessary to ensure they are maintained in a safe and habitable manner. In order to demonstrate compliance with regulations, inspection reports must be kept handy.
3. Rent rolls documents: A rent roll is a document in which the data regarding lands owned and rent due are recorded. Rent rolls summarize current and delinquent rent payments for each unit. These records can be used to demonstrate compliance with regulations if they are kept up-to-date and accurate.
4. Maintenance reports: For a property to remain in good condition, regular maintenance and repairs are necessary. It is important for property owners to keep records of all maintenance and repairs, including the date, description of the work, and cost. Records such as these can serve as proof that a property is well maintained and in compliance with regulations.
5. Income documentation: Maintain accurate records and documentation of income from the property, including rent, security deposits, and other fees and charges. During MOR inspections, this documentation can be used to demonstrate compliance with the income requirements.
Final words
In order to ensure a successful inspection, owners of the property should be prepared with these five documents before the on-site inspection. If you want to learn more about management and occupancy review from industry experts, check out Compliance Prime.
