Vickie Bell (00:05)
Hello and welcome to another Tuesday tip. This month we'll look at things that have and are changing in our industry, especially our documents.

Today we're going to talk about, since it's October, we'll talk about the COLA increase. We're due to get one this month and what HUD has to say about it.

the Social Security COLA increase is a way to deal with the inflationary things that happen within our industry. And HUD says that we can count these in several different ways. We should be receiving the 2026 COLA increases.

within the next week or two. I would think. And the reason I hesitate is because you know that government is on a shutdown, temporary shutdown, I pray.

Paragraph B3 on page 35.

of the Housing Notice 2023-10 tells us effective the day after the Social Security Administration has announced the COLA, that the public housing authorities and the multifamily owners are required, listen, are required to factor in the COLA.

when determining Social Security and SSI annual income and benefits. So this will be done during the annual recertification and any

have not yet been completed and will be effective January 1 of 2026 or later for the upcoming year, which is 2026.

change

is a deadline that we got with HOTMA

Now I've been asked, if I'm going to use that, do I put a note to the file that I'm using the 2023 version of what HUD tells us to do about the COLA? And yes, you can. You can never have too much backup as to what you're doing and what you're doing in the files.

Originally, it was set up and 2023-10 told us that these changes would come about, that we could use the COLA amount that comes out in October if we were ready with our software and things of that nature. Now, the software vendors say that they're ready and we're waiting on HUD. I know HOTMA is a bad word to most of you.

but it's coming and it's becoming a lot better.

Right now the forms are out for review. If you have not gone out there to look at the HOTMA forms and the changes that will be happening with them, encourage you to do so. Right now it's open for comment. So if there's something that you see in the form that you don't like, go ahead and make a comment about it.

You know, the COLA is an increase and the certifications that HUD has given us and that guidance that they've given us told us that, you know, it's going to be a part of HOTMA and they thought it was going to come a good little while ago and it has not yet. We're looking for January of 2026. So if in a couple of weeks they give us this 26 deadline, you can go ahead and implement the COLA changes.

the COLA increase. The handbook states that these benefits in EIV only has the COLA increase at the end of the year. And I think HUD was trying to do something to help us out by giving them to us in October. So this new requirement should help us. Many of you may remember that we were having to figure out what the AR

increment would be for the upcoming year for January, February, March, and April. And a lot of people were going back having to do IRs because they just didn't count them at all. But we've got permission now to go ahead once they're announced and use them on those certs. So I want to encourage you to look and listen out for the 2026

and to apply it to all of the January, February, March, and April certs that you have coming up. If your software won't allow you to, talk with your software vendor. Well, that takes our tip for today.

Don't forget, we're on a government shutdown, so don't be discouraged if it might not come until the end of October. But whenever it comes, we want to be ready for it. Thank you and see you next time for another Tuesday Tip.