TARRANT COUNTY HOUSING ASSISTANCE OFFICE 2018 LANDLORD SEMINAR

Similar documents
Target Market Analysis - Background

August 15, Dear colleagues,

MAMA Risk Summary Data through 2011 Q3

c/o National Housing Law Project 703 Market Street, Suite 2000 San Francisco, CA (415) ; Fax: (415) August 15, 2016

A SIMULATION: MEASURING THE EFFECT OF HOUSING STIMULUS PROGRAMS ON FUTURE HOUSE PRICES

VSIP POSITION LISTING American Federation of Government Employees

U.S. DEPARTMENT OF HUD 04/11/2017 STATE: FLORIDA ADJUSTED HOME INCOME LIMITS

The Gains from Right to Rent

Housing Affordability: Local and National Perspectives

Investor Presentation February 2015

Citi Global Property CEO Conference March 2016

Investor Presentation September 2014

Investor Presentation March 2017

The U.S. Housing Confidence Index

Notice for Suspension of Small Area Fair Market Rent (Small Area FMR) Designations: Solicitation of Comment - Docket No.

Guide for Estimating Affordability and Cap Exclusions for 2018 Deliveries

Pennsbury Professional Center 201 Woolston Drive Morrisville, PA

Implementing Small Area Fair Market Rents (SAFMRs) in the HCV Program. Plano Housing Authority Case Study

MANAGEMENT PRESENTATION

Is US Housing Over- or Under-Priced?

LUXURY MARKET REPORT. - May

DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT. [Docket No. FR-]

OFFICE OF PERSONNEL MANAGEMENT. 5 CFR Part 531 RIN: 3206-AM88. General Schedule Locality Pay Areas

DANIEL & BESHARA, P.C. ATIORNEYS AT LAW Elm Street Dallas, Texas (214) FAX (214)

Facilitating Transfer of REO to Stabilize Neighborhoods. Racquel Reddie Community Development Director Southeast USA

Housing, Construction, and Remodeling Update. Toby Morrison Director of Insights Metrostudy October 12, 2013

California s Housing Market: How Much Froth Is Out There?

STOCKTON, DETROIT, RIVERSIDE-SAN BERNARDINO POST TOP METRO FORECLOSURE RATES ACCORDING TO REALTYTRAC Q METROPOLITAN FORECLOSURE MARKET REPORT

Webcast: Implementing HUD s Small Area Fair Market Rent Rule

SPECIAL REPORT. Single-Family Rent Index: H Review

MANAGEMENT PRESENTATION JUNE Bear Creek Apartments, Dallas, TX

Department of Housing and Urban Development

More Savings for More Residents: Progress in Multifamily Housing Energy Efficiency

Rural Development Single Family Housing Guaranteed Loan Program Indiana Income Limits per Household Size

Naturally Occurring Affordable Housing

Black Knight Home Price Index Report: December Transactions U.S. Home Prices Up 0.1 Percent for the Month; Up 8.4 Percent Year-Over-Year

SHIMBERG CENTER FOR AFFORDABLE HOUSING

Brad O Connor, Ph.D. Chief Economist FloridaRealtors

(904) (904)

WEBINAR SERIES. Southeast Multifamily Market Assessment. July 21, Southeast Energy Efficiency Alliance

ULI Houston Suburban Trends Marketplace Gadi Kaufmann, CEO RCLCO

(904) (904)

4/1/2016. Your Instructor Today Is: Derek Antoine Maintenance and Management Clinic

NATIONAL ASSOCIATION OF REALTORS RESEARCH DIVISION

U.S. Foreclosure Activity Increases 2 Percent in July Boosted by 6 Percent Increase in Foreclosure Starts

Securitization Reports Update: The Outlook for U.S. Home Prices

News from the DuPage Housing Authority August 20, 2015

LUXURY MARKET REPORT. - March

LUXURY MARKET REPORT. - January

LUXURY MARKET REPORT. - February

HOUSING ASSISTANCE CONTRACT EXPIRATION PROCEDURES

OUR DETAIL IS RETAIL.

Black Knight Home Price Index Report: October Transactions U.S. Home Prices Up 0.1 for the Month; Up 4.5 Percent Year-Over-Year

OFFICE OF PERSONNEL MANAGEMENT. 5 CFR Part 531 RIN 3206-AN64. General Schedule Locality Pay Areas

CHAPTER 8 VOUCHER ISSUANCE AND BRIEFINGS [24 CFR , ]

Joint Center for Housing Studies. Harvard University

Housing Opportunity Through Modernization Act of Overview. February 8, 2017 Presenter: Seth Embry, Senior Associate

LUXURY MARKET REPORT. - March

Results of the Sept Survey. Presented By Heidi Bonnaffon January 21, 2011

VERMONT S RENTAL HOUSING AFFORDABILITY GAP CONTINUES TO GROW The Average Vermont Renter Can t Afford a Modest 2-Bedroom Apartment

February 2012 Real Estate Data

REALTOR.COM MARKET OUTLOOK

MANAGEMENT PRESENTATION

RETAIL REPORT VIEWPOINT 2018 / COMMERCIAL REAL ESTATE TRENDS. By: Hugh F. Kelly, PhD, CRE IRR.COM AN INTEGRA REALTY RESOURCES PUBLICATION

Economic & Housing Market Forecast

Already have a voucher and have questions? The following information might be helpful. If you still have questions, call (619)

Rental Housing Affordability in the Southeast: Data from the Sixth District

U.S. Economic and Institutional Apartment Market Overview and Outlook. January 7, 2015

Black Knight Home Price Index Report: June Transactions U.S. Home Prices Up 0.8 Percent for the Month; Up 5.5 Percent Year-Over-Year

Black Knight Home Price Index Report: December Transactions U.S. Home Prices Down 0.1 Percent for the Month; Up 4.5 Percent Year-Over-Year

County of Sonoma Agenda Item Summary Report

The State of the Commercial Real Estate Industry: Mid-Year 2010 Retail Review & Outlook

LUXURY MARKET REPORT. - November

DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT. [Docket No. FR-6125-N-02]

Welcome. Introductions Nature Expectations Agenda Timing. Home Sweet Home 2

Zombie and Vacant Properties Remediation Initiative: Emerging Best Practices

Honorable Chairman and Housing Authority Board Members Attn: Laura C. Kuhn, Executive Director

FEDERAL AND STATE HOUSING PROTECTIONS FOR SURVIVORS. What We ll Cover Today. Common Housing Issues 4/2/2009

U.S. GDP (2012 Q Q2)

The State of Florida s. Housing Douglas White Florida Housing Data Clearinghouse Shimberg Center University of Florida

Chapter 9 GENERAL LEASING POLICIES

The Role of Construction, Housing, and Real Estate in Inner City Economic Development: Towards a National Research Agenda

More details >>> HERE <<<

66726 Federal Register / Vol. 83, No. 247 / Thursday, December 27, 2018 / Notices

Recovery? Growth? Jobs? Capital Investment?

U.S. DEPARTMENT OF HUD 03/25/2015 STATE:NORTH CAROLINA ADJUSTED HOME INCOME LIMITS

Frequently Asked Questions on Transferring Budget Authority under Section 8(bb)(1)

Chapter 9 GENERAL LEASING POLICIES

Housing Choice Voucher Program Landlord Briefing

Case 1:17-cv Document 1 Filed 10/23/17 Page 1 of 47 UNITED STATES DISTRICT COURT DISTRICT OF THE DISTRICT OF COLUMBIA COMPLAINT

U.S. DEPARTMENT OF HUD 01/22/2014 STATE:CALIFORNIA ADJUSTED HOME INCOME LIMITS

U.S. DEPARTMENT OF HUD 03/25/2015 STATE:CALIFORNIA ADJUSTED HOME INCOME LIMITS

MAR KET GLANCE SAN DIEGO OFFICE MARKET REPORT PROPERTY SERVICES DEVELOPMENT INVESTMENT FOURTH QUARTER 2015 PROPERTY SERVICES DEVELOPMENT INVESTMENT

Annual Landlord Workshop. Montgomery Housing Authority September 26, 2013

Project Based Voucher Checklist. PBV Property Information. Date Reviewer. Number of PBV Units. PBV Project Name. Property Address

Foreclosures Continue to Bring Home Prices Down * FNC releases Q Update of Market Distress and Foreclosure Discount

Section Violence Against Women Act (VAWA)

Release Date: May 21, 2009 March Key Characteristics

TEXAS LUXURY HOME SALES REPORT Edition

QUICK TIPS: ASSISTING SURVIVORS

Transcription:

TARRANT COUNTY HOUSING ASSISTANCE OFFICE 2018 LANDLORD SEMINAR 1

HUD UPDATES 2

UNIFORM PHYSICAL CONDITION STANDARDS FOR VOUCHERS UPCS-V Improved method for Inspecting housing unit Reduce subjectivity to crease objective approach Use a deficiency driven approach instead of a checklist Fully electronic inspection platform Method is more owner friendly HUD will receive a copy of the full inspection Ensure health and safety of tenants 3

PASSING ON NON-LIFE THREATING (NLT) DEFICIENCY INITIALLY INSPECTION Allow PHA s to make payment on NTL Correct deficiencies within 30 days If you failed the inspection at 30 days, the unit will go on abatement going back to the effective date of the lease TCHAO is developing a list of NLT Deficiencies to consider 4

VIOLENCE AGAINST WOMEN ACT VAWA PHA must notify tenants of VAWA Landlords cannot deny applicant solely being a victim Landlord cannot evict a tenant due to VAWA Landlord cannot hold a victim to a higher standard Landlord can split the lease Landlord can proceed with eviction if the tenant is a threat to others Can evict for non VAWA activities 5

WHAT ARE SMALL AREA FAIR MARKET RENTS (SAFMRS) SAFMRs would set FMRs by zip code within each metropolitan areas. This would enable a more accurate reflection of on-the-ground rents in particular zip codes 6

HOW DID WE GET HERE? HUD found that 50 th percentile FMRs did not work They were not an effective tool in increasing HCV tenant moves from areas of low opportunity to higher opportunity The benefit from the increased FMRs went to the landlord in lower rent areas as higher rents Did not incentivize people to move to units in communities with more, better, or both opportunities 7

HOW DID WE GET HERE? As an alternative to 50 th percentile FMRs, HUD looked to SAFMRs On May 18, 2010, HUD announced the SAFMR Demonstration project to research the efficacy of SAMFRs SAFMRs were used by Dallas starting on August 4, 2010 as part of a court order Based on the data for SAFMRs collected from these sources, HUD decided to implement SAFMRs on a broader scale 8

HOW DID WE GET HERE? Summer of 2015 Advanced Notice of Proposed Rulemaking Summer of 2016 Proposed SAFMR rule Fall 2016 Final SAFMR Rule - Effective January 17, 2017 9

HOW DID WE GET HERE? Summer of 2017 HUD Suspends Mandatory Implementation of SAFMRs in 23 of 24 designated areas December, 2017 Federal Court Enjoins Suspension SAFMRs must be mandatorily implemented January, 2018 HUD Publishes Guidance on SAFMRs Must be implemented by April 1, 2018 10

SMALL AREA FMRS AREAS REQUIRING MANDATORY IMPLEMENTATION Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area Bergen-Passaic, NJ HUD Metro FMR Area Charlotte-Gastonia-Rock Hill, NC-SC HUD Metro FMR Area Chicago-Joliet-Naperville, IL HUD Metro FMR Area Colorado Springs, CO HUD Metro FMR Area Dallas-Plano-Irving, TX Metro Division Fort Lauderdale-Pompano Beach-Deerfield Beach, FL Metro Division Fort Worth-Arlington, TX HUD Metro FMR Area Gary, IN HUD Metro FMR Area Hartford-West Hartford-East Hartford, CT HUD Metro FMR Area Jackson, MS HUD Metro FMR Area Jacksonville, FL HUD Metro FMR Area Monmouth-Ocean, NJ HUD Metro FMR Area North Port-Bradenton-Sarasota, FL MSA Palm Bay-Melbourne-Titusville, FL MSA Philadelphia-Camden-Wilmington, PA-NJ-DE- MD MSA Pittsburgh, PA HUD Metro FMR Area Sacramento--Arden-Arcade--Roseville, CA HUD Metro FMR Area San Antonio-New Braunfels, TX HUD Metro FMR Area San Diego-Carlsbad-San Marcos, CA MSA Tampa-St. Petersburg-Clearwater, FL MSA Urban Honolulu, HI MSA Washington-Arlington-Alexandria, DC-VA-MD HUD Metro FMR Area West Palm Beach-Boca Raton-Delray Beach, FL Metro Division 11

MANAGEMENT DISCUSSION ITEMS Management concerns about SAFMR s How to explain SAFMR s to participants and owners Determine payment standards Adopt a policy regarding reduced payment standards Training staff Reaching out to software provider 12

INITIAL CONCERNS ABOUT SAFMR S How will SAFMR s affect program participants How to explain SAFMR s to participants and owners How will SAFMR s affect our budget 13

2017 VS 2018 AVERAGE PAYMENT STANDARDS (PS) PS 2017 2018 Average $2,542 $2,500 $2,249 $2,300 $2,100 $1,955 $2,153 $2,434 $1,900 $1,700 $1,538 $1,872 $1,500 $1,300 $1,100 $900 $700 $1,121 $1,472 $892 $1,070 $847 1 2 3 4 5 6 Bedroom Size 14

2018 AVERAGE PAYMENT STANDARDS (PS) 2018 Average Monthly Increase $108 $100 $96 $83 $80 $66 $60 $40 $45 $51 $20 $- 1 2 3 4 5 6 15

2018 PAYMENT STANDARDS (PS) 2018 PS Highest Lowest Average $3,500 $3,000 $2,500 $2,000 $1,500 $1,000 $500 1 2 3 4 5 6 16

2018 AVERAGE STANDARDS (PS) $3,000 Average 2018 PS $2,500 $2,542 $2,000 $2,249 $1,955 $1,500 $1,538 $1,000 $892 $1,121 $500 1 2 3 4 5 6 Bedroom Size 17

2018 HAP ANNUAL INCREASE PER BEDROOM SIZE 2018 Annual Increase in Costs Per Bedroom Size $800,000 $753,372 $724,680 $700,000 $600,000 $500,000 $400,000 $300,000 $389,880 $200,000 $179,280 $100,000 $21,888 $2,602 $- 1 2 3 4 5 6 18

TOP 5 PS REDUCTIONS PER BEDROOM Top 5 Highest Bedroom Reductions in Tarrant PS Per Bedroom Size $(50) 1 2 3 4 5 6 $(150) $(250) $(350) $(450) 76179 76039, 76063 76066 76117 76067, 76070, 76103, 76104, 76164 $(550) 19

AFFECTS OF SAFMR HOUSING ASSISTANCE PAYMENT (HAP) BUDGET Before SAFMR $21.6 Million Annual HAP Funding $1.8 Million HAP Monthly Serving 2880 Families SAFMR $21.6 Million Annual HAP Funding vs $23.9 Million HAP Funding $1.9 Million HAP Monthly Serve 2700 Families Each year the # of families will reduce 20

PAYMENT STANDARD POLICIES TCHAO decided to implement No Change in Policy; will update Admin Plan TCHAO decided to go adopt the SAFMRs at 100% FMR 130 Zip Codes within TCHAO s jurisdiction 21

PLAN OF ACTION Met with software provider (HAPPY) to update zip codes and payment standards in system Developed Rent Affordability Calculator formula Developed plan to educate participants and staff Obtain approval of payment standards and polices for the Admin Plan 22

BRIEFINGS & RFTA PROCESSES Updated website Briefing times extended to educate participants on SAFMR s Scheduled Landlord Seminar Determine affordability upon submission of RFTA 23

THE END 24