Form Hud-9834 - Management Review For Multifamily Housing Projects Page 8

U.S. Department of Housing and Urban Development

OMB Approval No. 2502-0178

Management Review for Multifamily

Exp. 11/30/2011

Office of Housing – Federal Housing Commissioner

Housing Projects

Yes

If yes, is there a payment plan? Yes

Comments:

34. Are rent increase requests submitted to HUD promptly when needed? (This question applies only to HUD Staff)

Yes

Review the timing of the last three rent increase requests and the results of the requests (approval, denial or modification to requested amount) and whether the rents are

comparable to other neighboring properties. If a wide disparity exists, determine the cause of the difference.

Does owner/agent generally provide sufficient documentation for rent increases? Yes

Comments:

35 Are contract renewals submitted to HUD promptly when needed?

Yes

Comments:

36. Complete chart below. (This question applies only to HUD Staff/ Mortgagees)

Name of Reserve

As of

Held in Interest Bearing

Account?

Total

Per Unit

Monthly Deposit

Replacement Reserve

Yes

General Operating Reserve

Yes

(Co-ops)

Residual Receipts

Yes

Other

Yes

a. Do balances in replacement or general operating reserve accounts appear adequate to meet future needs?

Yes

If not, what action is recommended?

b. Is only one account (i.e., the appropriate reserve or operating expense account) being billed for repairs that are eligible for reimbursement from the reserves?

Yes

Comments:

37. Has the owner/agent performed analysis to determine future Reserve for Replacement needs when submitting a budget based rent increase?

Yes

Comments:

38. If there is a utility allowance, when was the last adjustment approved?

Effective date of last utility allowance adjustment:

If a utility allowance was approved was it implemented within 75 days as required by HUD? Yes

Comments:

39. What is the effective date of the last rent adjustment? Date of last rent adjustment:

Comments:

40. Is current approved rent schedule sufficient to meet project needs? (This question applies only to HUD Staff)