How to Talk to Your Residents About HOTMA: Key Changes and Communication Tips
Posted On: August 6, 2024
The Housing Opportunity Through Modernization Act (HOTMA) changes impact income calculations, asset limitations, inspections, and more. As a result, effective communication with residents is crucial when discussing significant updates. This guide will help you navigate these conversations, ensuring clarity and empathy in your approach.
Understanding HOTMA Changes
HOTMA aims to make housing assistance more accessible and fairer for residents. These changes include adjustments to income calculations, asset limitations, property standards, and recertification processes. Overall, you must be well-informed to effectively communicate these changes to your residents and prepared to address their concerns.
Key Changes to Discuss
Income Calculation Adjustments
HOTMA adjusts how income is calculated for housing assistance:
Inclusion of Regular Contributions and Gifts: Regular financial contributions and gifts are now considered in income calculations.
Exclusion of Specific Income Types: Student financial aid and certain other income types are excluded, making calculations fairer.
Impact on Rent: These changes may affect residents’ rent amounts, so clarity on these adjustments is vital.
Asset Limitation Adjustments
HOTMA imposes a new asset limit and changes how assets are considered:
New Asset Limit of $100,000: Residents must have assets below this limit to qualify.
Actual Income from Assets Considered: Only the actual income generated from assets is considered, not the asset value itself.
Inspection and Property Standards
Improved standards ensure better living conditions:
Regular and Consistent Inspections: Properties will undergo regular inspections to maintain standards.
Enhanced Property Standards: Higher standards for properties aim to provide better living conditions for residents.
Flexible Use of Housing Assistance
HOTMA allows for more flexibility in housing assistance:
Easier Portability of Vouchers: Residents can more easily move and take their housing vouchers with them.
Expanded Eligibility: More housing types are now eligible for assistance, providing residents with more options.
Simplified Recertification Processes
HUD has streamlined the recertification process:
Certification for Fixed-Income Families: Simplified processes, including the use of COLA for adjustments.
Full Recertification Every Three Years: Residents will undergo a complete recertification every three years.
Rent Adjustments
The HOTMA changes introduce uniform methods for calculating rent:
Caps on Rent Increases: Ensures greater stability for residents.
Greater Stability: Residents can expect more predictable rent calculations.
Streamlined Eligibility Criteria
HOTMA simplifies eligibility criteria:
Clearer Guidelines: Easier to understand and meet eligibility requirements.
Automatic Requalification: Some residents may automatically requalify under the new criteria.
How Owners and Agents Can Help
As property managers and agents, it’s crucial to:
Be Informed: Stay updated on the changes and understand their implications.
Communicate Clearly: Explain the changes empathetically and ensure residents understand how they are affected.
Provide Resources: Offer support and resources to help residents navigate these changes.
Watch Our Informative Video
For a detailed presentation on HOTMA changes and their impacts, watch our HOTMA Explanation Video. This video provides a comprehensive overview and helpful tips for discussing these changes with your residents.
Additional Resources
For more detailed information, you can download the following documents:
These resources provide comprehensive details and examples that can help you explain the changes to your residents effectively.
Contact Us
Discussing HOTMA with your residents doesn’t have to be daunting. By being informed, communicating clearly, and providing support, you can help your residents understand and adapt to these changes. Remember, empathy and clarity are key to successful communication.
For further assistance, contact our corporate trainers:
