New HOTMA Resources, Discounts from LeadingAge National
The 2016 Housing Opportunity Through Modernization Act (HOTMA) makes major changes to affordable housing rules for providers assisted by the U.S. Department of Housing and Urban Development (HUD). While the HOTMA Final Rule’s effective date is Jan. 1, 2024, HUD has acknowledged that implementation for Multifamily Housing providers will be an ongoing process that occurs throughout 2024, culminating in a final implementation deadline of Dec. 31, 2024.
In the meantime, Multifamily Housing owners must update their Tenant Selection Plans, Enterprise Income Verification (EIV) Policies and Procedures, House Rules, and other leasing and occupancy policies to reflect HOTMA rules and discretionary policies.
To help members prepare, LeadingAge National has announced a collaboration with DeSilva Housing Group, a national training and consulting firm that specializes in assisting Multifamily owners and managers with HUD compliance, to provide the following support for mission-driven housing providers:
- A free checklist tailored to LeadingAge members: LeadingAge National will soon share a checklist containing older adult-friendly approaches to discretionary policies that members can reference as they digest the new HOTMA regulations.
- Upcoming question and answer (Q&A) sessions for LeadingAge members: Jenny DeSilva, President of DeSilva Housing Group, will join LeadingAge staff and members to discuss HOTMA discretionary policies, with an emphasis on policies that best support older adult residents.
- A special discount on DeSilva Housing Group’s policies – just for LeadingAge members: LeadingAge members will receive 15 percent off all DeSilva Housing Group policies!
Stay tuned for more information on how to access these exclusive resources!
LeadingAge National and six national housing partners also recently hosted a call with HUD to help clarify the current approach to new asset limits under HOTMA. During the call, HUD staff shared how housing providers should approach the asset limit currently and how residents could be impacted in the future. Access the call recording here and find more information on the new asset limit from LeadingAge National here.
For more HOTMA information and resources from LeadingAge National, visit its HOTMA webpage or reach out to Juliana Bilowich, LeadingAge National’s Director of Housing Operations and Policy.
Contact: Annalyse Komoroske Denio, akomoroskedenio@leadingageny.org, 518-867-8866