Author: Admin

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Forms Training Manual

Please see below an updated version of the Forms Training Manual. Be sure to discard any previous versions of this manual, share a copy with all those that work with Tenant Tech forms at your property and save a copy to your desktop.

As a reminder, this manual:

  • Provides the name of the MFNW (or MMHA form in California) forms, in alphabetical order
  • Outlines the use / purpose of each form
  • Describes the main differences between the former Cambridge form (if applicable) and the updated version of the form
  • Provides step-by-step instructions on how to complete each form in Tenant Tech

We will continue to update and improve this manual; if you have any questions or suggestions, please feel free to contact Kristen Strong kstrong@cambridgeres.com

Forms-Training-Manual-May-2020Download

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Collection / Fee Reminders

Here are a few friendly reminders to keep in mind during this pandemic / moratoria:

  1. No Late Fees
    1. Absolutely no late fees should be charged until further notice
  1. NSF Fees
    1. If a resident’s check is returned, you can charge an NSF fee to the resident’s ledger in Yardi
    2. Do not make any attempt to collect the NSF fee until further notice
  1. Move Outs:
    1. You can reflect estimated prorated charges, any lease break fees, final rents owed, any unpaid charges, etc. on the Notice to Vacate form – you just can’t demand that a resident pays any amounts prior to move out
    2. Continue to process security deposit accounting for move-outs as you normally would

i.      Send final move out accounting information to the resident

ii.      If a balance is owed and no payment plan is proposed by the former resident, the file will then be sent to collections after the appropriate amount of time has passed. Note the moratoria / demand for payment restrictions do not apply to former residents, only current residents

Oregon and Washington Properties: You can provide residents their current account information using a new form, M176 Emergency COVID-19 Balance Reminder in Tenant Tech, without requesting any demand for payment (sample below). This form is for residents’ reference only.

California and Idaho Properties: A version of M176 Emergency COVID-19 Balance Reminder is coming very soon to Tenant Tech for properties in California and Idaho.  A sample of the form is below for reference only.  Stay tuned for one suitable for use at your property!

Please let us know if you have any questions.

M176-Oregon-and-Washington-Emergency-COVID-19-Balance-ReminderDownload
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CARES Act Notification – Retirement Plan Provisions

Coronavirus Aid, Relief and Economic Security Act (CARES Act)

The CARES Act which was enacted on March 27, 2020 is a new law that includes certain relief provisions applicable to retirement plan administration.

Distributions

The Plan allows for coronavirus-related distributions, up to a total of $100,000 from April 20 through December 30, 2020 to Eligible Participants who meets one of the following criteria:

· Is diagnosed with a coronavirus (COVID-19 or SARS-CoV-2) illness by a test approved by the CDC;

· Has a spouse or dependent diagnosed with such coronavirus illness by a test approved by the CDC; or

· Experiences “adverse financial consequences” as a result of being quarantined, furloughed, laid off, having a reduction in work hours, a business closure, the lack of childcare, or other factors determined by the IRS due to the coronavirus emergency.

Increased Loan Limits

The Plan allows Eligible Participants to take loans up to the lesser of $100,000 or 100% of the participant’s vested account balance from April 20 through September 22, 2020 (180 days from date of enactment of the Act).

The availability of the coronavirus-related loans will supersede the Plan’s otherwise applicable limitations on number of available loans and/or frequency with which a loan may be taken by allowing for one additional loan, available without regard to the date any prior loan was taken.

The Participant’s will be required to self-certify as to their qualification for this distribution.

Loan Suspension

The Act allows Eligible Participants with loan repayments due during the period of March 27, 2020 through December 31, 2020, to suspend their repayments for one year. At the end of the suspension period, the participant’s loan repayments will be adjusted to reflect the interest accrued and the participant’s loan term will be extended to reflect the suspension period, which may exceed the normal 5 year maximum term for general purpose loans or the plan limit on principal residence loans.

Required Contributions

The Act also relieves participants and beneficiaries from receiving a required minimum distribution (RMD) for 2020, and for 2019 if the participant turned age 70½ in 2019 and did not receive their first RMD for 2019 on or before January 1, 2020.

If you have any questions about the CARES Act, contact Transamerica at (866) 498-4557

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Reminders on Rent / Late Fees

Here are a few friendly reminders to follow until the COVID-19 moratoria is lifted:

  • Do not charge any late fees
  • Do not issue any Notices for Non-Payment of Rent
    1. No 72-Hour Notices
    2. No 3-Day Notices
    3. No 14-Day Notices (Washington only)
    4. No Balance Due Letters
    5. No Phone Calls About Delinquencies
    6. Nothing that could be viewed as a ‘collection’ effort
    7. Just call your Supervisor or send them an email and let them know what’s up
  • Do not file any evictions for non-payment of rent unless specifically instructed to do so by your Property Supervisor

Also, we’ve received many questions about those with residents that have approved rent deferments. Rent Café cannot accept partial payments; this means residents will need to cancel auto-pay (if setup) and pay rent via check or money order for April and May, at a minimum.


Please let us know should you have any questions.

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Families First Coronavirus Response Act Notification

Dear Employees,

Please read the flyer below that provides information on Paid Sick Leave (EPSL) and Expanded Family and Medical Leave (EFMLEA/FMLA+) under the Families First Coronavirus Response Act. 

Further information, along with this notice, will be posted on the ADP home page shortly. 

Families-First-Coronavirus-Response-Act-PostingDownload

Please be sure to reach out to HR if you have any questions.