Refinancing a multi-family property can offer great financial benefits, but it’s crucial to navigate the process carefully. From evaluating whether refinancing makes sense to finding the right bank, these four key tips will help ensure you make the best decision for your investment.
Though it can be a nerve-wracking discovery, missing a HAP check doesn’t doom your property. Notify HUD and take action to make sure your property stays financially stable during this temporary lull in revenue.
Whether you’re getting ready to send your hundredth audit RFP or are creating your first one, it’s important to make sure it’s doing the work for you. A well-written, clean-cut RFP will tell you right away which auditing firm pays attention to details and is worth every penny of their fee.
Starting with FY 2018, Rural Development properties report their financial statements a little differently than before. Fortunately, these changes bring simplification and alignment with other government agencies, like HUD. Some low-risk properties don’t even need to perform a yearly audit anymore.
Calculating surplus cash without an experienced accountant can be tricky and downright dangerous. If you do the calculation early, however, our accountants will be happy to review, re-calculate, and make suggestions where needed so you take home the right amount of surplus cash.
HUD loans finance many non-profit-seeking properties across the country, all of which are dedicated to the mission of providing safe, affordable housing for members of at-risk communities. The agreements drawn up for non-profit HUD properties include the calculation of surplus cash, which may sound like cash that can be used
As of December 31, 2017, partners who sell more than 50% of their interest in a 12-month period no longer have to file a technical termination. This simplifies the tax filing process throughout the year, but organizations should keep their tax preparer informed of these changes so they have up-to-date information for next year’s return.
