I just finished up another file review for a community that is about to have an MOR and thought I would share some findings for the benefit of everyone. This is a very basic list of some common findings from the files I looked at.
- Don’t forget to look at your lease when preparing for an MOR – the most common errors are: wrong lease dates, no signature, and incorrect recertification month in paragraph 15
- Checking accounts use average 6 month balance and savings accounts use the current balance
- All annual since June 2010 and all Interims since August 2010 MUST have EIV
- All moves in should have an EIV Existing Tenant Search
- Don’t forget that any addendum must have HUD approval or you can’t have it in the resident file
- Make sure the application is thoroughly reviewed – more errors happen because something is not verified that was originally listed on the application
Having a successful MOR is a matter of reviewing your files on a regular basis. You should not wait until you are notified of an MOR…before a file is put away every piece of paper in it should be reviewed to make sure you aren’t missing anything.
Take a few minutes every day to check a few files and before you know it you’ll be caught up. It will save you heartache in the long run.
Good luck!