Tag: Compliance Tips

If your property has more than one set-aside, and a resident is moving in at a set-aside lower than your highest, please complete the lease per supervisor instructions as follows.

How to Complete a Lease with Lower Set-Aside Rent

Please review the attached Questionnaires for California, Oregon, Idaho, and HUD/RD properties for “Examples & TIPS on how to fill out the Questionnaire”.  

We have highlighted key wording in the questionnaire to grab your attention when completing this form, with TIPS throughout. 

• Confirm you have updated the phone number and email in the resident Yardi profile by clicking on the “personal Information” tab, click “edit” and updated the information, then click “save”.
• Verify the resident phone number is being completed on pg1
• If the answer is YES,= ALL fields in the questions must be answered, and additional verification will be required.

California
Oregon
Idaho
HUD/RD

Two aspects to remember regarding acquiring an email address from an applicant:

1. An email address is required for all applicants. Do not submit an application to the screening company without one.
   • If an applicant does not have an email address, let them know that one will have to be set up for the screening to be completed. 
     An alternative, if the applicant refuses to create one, would be for them to provide one that belongs to a trusted person who will pass on any necessary information.
2. For all current and future residents, ensure the email address of the Head of Household (or the person who is rent-responsible) is entered into Yardi.
   • Check the Personal Info tab for the unit (you can do this at any time or during recertification – a good time to get an email if you don’t have one).
   • In order to add an email, click Edit, type in the email, then click Save.

Email Address Required

Yardi has made a small update that affects how we input assets. Assets are input during a Move-in, Recertification, or any Interim Recertification.

1. When entering an asset data, you will now have a line asking for “Income Type” that includes a dropdown menu. This line needs to be completed in order to save the asset.
2. From the dropdown menu, you will have to choose “Actual” or “Imputed.”
3. As of right now, always choose “Actual.”
   1. Then input the Annual Interest % or Actual Income amount.
   2. If an account does not have any interest or income, leave these fields at “0.”

• Of Note: At this time, if the assets are above $5K, and the imputed amount is greater than the actual, Yardi will automatically select the higher amounts, even if you have not selected “Imputed” in the previous step.

See attachment for a printable example:
Changes to Inputting Assets in Yardi

Regarding PERS, CalPERS, and FERS accounts (any retirement-style accounts from a county/state/school district):

Due to these accounts not being accessible while a person is currently employed with the providing agency, they are not to be counted as asset account while a person is still employed and able to contribute to the account.

Per HUD guidelines, “amounts that would be accessible only if the person retired are not counted.” This applies to PERS-type accounts because a person must by permanently separated form all PERS covered employment in order to withdraw contributions.

NOTE: If the PERS-type account was included in a previous recertification, and if it was that account that had taken them over $5K in assets, make sure you reevaluate the assets this year. Without the PERS-type account, if the assets are below $5000, you do not need VODs, and will need an Under $5K Assets Certification.

Following up from last week’s TIP, “How to execute a lease/rent change in Yardi,” once you have completed the rent change, create a rent adjustment letter to post/send to each affected unit.

The following steps are included in the link below for your records.

Completing Rent Adjustment Letter

From time to time, we will increase or decrease a resident’s rent. As a manager, you have the ability to make this quick change. As a reminder, click here and follow these easy steps:

Please review the “examples” on “How to fill out the Unemployed / Zero Income Form and the Zero Income Checklist Form”.  Also included is the “Income status Certification” for Oregon Tax Credit. 

These forms are used when an applicant or resident does not have earned income (W2, 1099, Business income, ect”).  Below are example forms for California, Idaho /HUD/RD and Oregon. 

TIP to take away- If the answer is YES,  supporting documentation is required.

Unemployed Zero Income – California
Unemployed Zero Income – Idaho, RD-HUD
Income Status Certification – Oregon
Zero Income Checklist

Overview: When you make any changes in Yardi on a move-in or recertification, remember to save the certification before you print the TIC.

Saving TIC Changes

Please review the “examples” on “How to fill out the Student Status Certification”. 

Below are links to example forms for California, Idaho and Oregon. The RD/HUD properties will use the form for the state the property is located in. 

We have highlighted key wording on the forms to grab your attention when completing these forms, with some helpful TIPS as “examples only”.

TIP to take away- If the answer is YES, ALL fields in the section “must have a response” and will require supporting documentation in the file.

Annual Certification of Student Status—Oregon
Tax Credit Student Certification—California
Tax Credit Certification of Student Status—Idaho