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well hi that concludes our budget.baserunners s for training thank you.know everyone thank you for your.patience that we have been having some.technical difficulties but well oh I've.been getting word we're still having.technical problems so please hold on can.you hear me but very hello testing.she says she can hear now say ok Susan.can hear so Barry can you hear or see.anything yeah I'm one of my colleagues.is remote and she can see it and hear it.okay alright everybody thanks for your.patience we were having a lot of.technical difficulties but we're going.to talk about budget-based rent.adjustments for project-based section 8.properties and this little housekeeping.make sure phones are set on silent or.vibrate if you're here in San Francisco.with us our agenda for today I'll just.briefly talk about who kahi and CGI even.are we'll talk about app contracts and.how they actually relate to doing a.budget based around adjustment we'll.talk a little bit about rent.comparability studies as well because.they also play into doing a budget based.round adjustment and then we'll actually.dive in and talk about what you need to.submit to us the pbca how it is that we.actually evaluate what it is they send.to us and how we determine your final.rents using the appendix 5 and then at.the end we'll definitely try and save.some time excuse me for questions but.since I actually think we're now a.little bit more pressed for time if you.can try and save your questions to the.end that'd be great.ok so who is kahi and who is CGI kahi.California affordable housing.initiatives is actually an.instrumentality of the Oakland Housing.Authority and they were set up to help.administer housing programs for low and.moderate income families in Northern.California so kahi actually holds the.ACC or the performance-based contract.administration contract with u.s..Housing and Urban Development.kahi partnered with CGI which is which.is actually a French acronym for console.years generally and format seek I.understand it uh-huh it translates the.general information consult.but CGI is a IT and business process.services company with about 70,000.employees around the world here in.Northern California as well as other.jurisdictions in the United States for.example Ohio New York we have similar.partnerships and administer the.project-based section 8 programs there.as well so at least here in California.you've been together with kahe doing.this since October 2004 so almost 11.years okay so let's talk about HAP.contracts and what they even have to do.with your budget base rent adjustment.that you're considering well I'm sure.you're all familiar but just really.quickly to level set your housing.assistance payment contract or HAP.contract.it's your agreement between you us the.pbca and HUD and they usually last from.about one to twenty years and just like.any other contract it outlines your.obligations of delivering affordable.housing and you'll all of these rules.and in turn you'll get this amount of.subsidy now the things I want to hit on.is that back in 1997 Congress enacted.the multi-family assisted housing I.canceled my PowerPoint rental assistance.a hat maura.and that went into effect I believe in.probably early 2000 I've looked at our.portfolio and I think there's only one.primera contract left so I'm guessing.99.9% of you in this room have a.postmark contract why is that even.important to you.Mara implemented a couple of more I.guess would you call it things that you.needed to do in your contract.requirements that's what I'm looking for.the first was about funding which we.don't really need to get into but.basically you do have to do rent.adjustment every year we're in the past.if you were primera you didn't have to.but more importantly for you guys it.imposed comparability and when I say.comparability I mean rent comparability.studies there are actually six options.that you could renew under Amara.depending on your circumstances in.situation.and actually the six wonders you're.opting out of the program so that's not.really when we want to talk about but.depending on those options it dictated.what kind of run adjustments you could.do in subsequent years and when and if.you needed a rent comparability studies.we'll cover that a little bit more in.just a second.mara I think I've already covered this I.have to apologize to anyone who's.watching on the webcast my powerpoint is.super tiny so I can barely see where I'm.in I am okay let's talk about subsequent.years for your REM adjustments so for.example if you actually little bit of.trivia does anyone can anyone name the.six options for post tomorrow contract.Louise come on it does yes anyway - okay.all right so we're still having some.technical problems in San Francisco.sorry folks on the webcast there's six.options and only of them for you option.one is markup to market option two is.rent at or below market option three.actually has two sub choices I guess.there's option three a which is a office.of affordable housing preservation light.contract yes okay option three B which.is the full restructuring of your loans.then this is option for where you're.exempt from going to o HAP and there's.option five where you may be in a plan.of action or have some kind of long term.use agreement with HUD then as I.mentioned there's option six where.you're actually just leaving.project-based section 8 program.altogether but depending on what option.you are in now you may not even have a.choice of doing a bunch of base for an.adjustment so you know before you put in.a ton of work on putting a budget.together make sure you know what option.you're under and it even matters what.year you're in as well can anyone tell.me the significance if let's say your.option two but you're in a six.year of your multi-year contract yeah.you need a comp study you can't even do.your budget or no calf you need to go.get a comp study and your rents will be.set to the market so it's really.important that one you understand what.your contract even allows or what.contractor under two what year you're in.of your multi-year contract and three.you know do I even need to get an RCS so.let's talk about our CSS really fast.it's a rent study it compares your units.and amenities and all that good stuff to.other properties in the vicinity and.just really quickly I mean the whole.reason for getting an RCS is so that.there's a level playing field HUD and.market owners and you you know.subsidized housing owner will be getting.rents that only the market will bear no.one has a certain advantage no one's.getting overpaid or underpaid so that's.really the point of the RCS and just.some good things to know you know RCS.azar generally good for five years and.may not always need to Commission an.appraiser actually there are two.alternatives that might be possible for.getting an RCS one is if your proposed.adjusted gross rents or still going to.be seventy five percent or less than the.current FMRS in your area you don't need.to get an RCS and if you have a mixed.properly so let's say you have a hundred.units of you know section eight units.and then you have a hundred other.hundred market units and they're more or.less identical you can use your own.property as an RCS so I've only I think.ever seen that happen once in the last.eleven years though alright so why so.much focus on the RCS as well as I.mentioned before you know you might have.to do a mark two comparables and more.importantly if you were option for when.you renewed under option for you didn't.have to get an RCS instead you turned.any budget and an oak calf to us the.pbca and we awarded you the lower of.those two rents now again maybe you're.some years down the road and you're.saying we really would like to do a.budget well if you're an option for.or you can do the budget but you need to.get an RCS to go with it and your rents.will be capped to those market rents and.then as I mentioned earlier if you're in.year six 11 or 16 since we do have a lot.of 20-year long-term half contracts most.likely you will have to get an RCS and.get mark to comms so things to keep in.mind.all right so finally I'm gonna talk.about budget based around adjustments.you've looked at your contract you're.good to go you don't need an RCS or.you're not gonna get mark two comps at.least and you want to submit a budget.you know some of the reasons that you.might want to do that is a no caffeine.crease just isn't enough to cover your.expenses maybe you're having some.financial difficulties at your property.or if you're renewing under option two.you just you actually have to get an RCS.so they're just HUD requirements for.that as well well let's talk about a.complete package if you are wanting to.get a budget based or an adjustment.first you need to put together a cover.letter for us us being the pbca.explain what kind of rent increase is.needed and the desired percent increase.and the dating the increase will be.implemented and describe you know some.of the reasons of why you need this.budget-based rent increase there's also.the budget worksheet that you need to.fill in and I think at least for the.people here in San Francisco you have a.blank copy of one of the first page and.we'll talk a little bit more about that.as well that needs to be completed.we'll need a narrative and documentation.for any line items that you're asking.for that are 5% and $500 more than last.year's audited figures so again we'll.talk a little bit more about that in a.moment you'll also need to provide to us.an owner certification regarding.purchasing practices and reasonableness.of expenses utility allowance analysis.I'm sure you're all dying to ask me a.ton of questions about uas because there.was a new HUD notice from headquarters.like it's 2015 - Oh for I gonna be.honest with you we actually have some.questions ourselves the pbca and we've.ask them of HUD HQ so I don't want to.get too deep and do utility allowances.right now but I will say that and.probably nothing you don't already know.if you've read it yourself but on the go.forward you ways every few years you'll.need to do a baseline and the sample.size that you've been used to at least.here in Northern California the sample.is gonna be much bigger you'll have to.quite a larger sample to us and in years.two and three it's gonna be kind of like.an oak a fuel get your you a adjusted by.a certain factor and four decreases.those actually have to be stepped over.the three-year period so if it's more.than I thank certain percentage of a.decrease you can only go down by so much.the following year and then decrease it.fully in the third year but that's.pretty general and I'm sorry I actually.don't have any more specifics right now.I'd hate to send you it can give you any.wrong information so but once we do find.out it'll definitely be published on our.website so you guys can get as much.information on it and what you need to.do as possible okay so you ways you'll.need a copy of the tenant notice and.comment period and you'll need to.provide to us an owner certification.that you've actually posted the time of.comment notice and what tenants have.their say if they need it - okay there's.still more for the complete package you.need a status report on the project's.implementation of its current energy.concrete conservation plan and then a.HUD form nine to five oh if you're.contemplating a change in your our for.our reserve for replacement if you are.you also need to provide like a.five-year reserve analysis okay so those.are all I think that's 99.9% of the.documents you need to submit to us do.reserve the right to ask you for.something else if necessary but that.should cover it the budget worksheet.this is probably one of the most.important pieces.of information that you provide so if.you're here in San Francisco you're.looking at it it has the most recent.audited financial figures in first.column the one froze to the left and.then it has your year-to-date actual.expenses.excuse me mmm in the unaudited column.that's the column in the middle and then.it has the projected figures basically.what you're asking for in your budget in.the third column make sure you sign it.and date it as well and document those.expenses so what we're looking at when.you submit it to us is we're taking that.first column and that third column and.seeing what the percent and difference.is so if we're seeing anything that's.one greater than 5% and then it's also.more than $500 you can bet that we will.be looking for your explanation and if.it's not in there that will delay the.rent adjustment because we will go right.back to you and say why do you want this.and we also again reserve the right to.ask for any documentation on any life.line item regardless of the percentage.change but again we're most focused on.5% and $500 increases okay some examples.of the supporting documentation that you.can provide in your package to us you.know might be estimates or contracts or.invoices from your vendors maybe you.hired some new staff so changes in.payroll.you know something from the utility.companies saying or insurance providers.saying your rates are going up stuff.like that some of the common errors that.we do see owners are supposed to submit.a complete package 120 days before your.anniversary and you know unfortunately.oftentimes just for a variety of reasons.we don't get that and you know I can.delay your rent adjustment.you know non-compliant utility analyses.again I will get to the new one.eventually but at least in the past with.old uae's oftentimes we'd get samples.where the utility bills are way too old.they're beyond the 18 month period or we.didn't get enough of a sample so that.was a big barrier to getting things done.other common area common errors project.actually with what they submitted it.doesn't warrant a rent increase and.sometimes we actually plug into all your.numbers and we don't even a just.anything you're actually getting a.negative right adjustments so we'll.touch on that in a minute as well so.here's just some other common errors are.for our you need to have your five-year.reserve analysis okay you know great.resource is the HUD handbook forty-three.50.1 Chapter seven it very clearly.describes really the whole process of.putting a budget together and what the.pbca or HUD is looking for so certainly.recommend you have that near by you know.put it under your pillow and sleep at.sleep on it it's a great read okay let's.talk a little bit more about the budget.worksheet so as I described earlier you.know you have your actual audited cost.and column one your a year to date in.column two the middle column and then.what you're asking for in column three.and we are looking at the actual audited.costs and comparing them to what you're.asking for in this upcoming year and.we're looking for the reasons why you.feel you need an increase or even a.decrease in some cases and some of those.line items so here's the budget.worksheet for folks who might be on the.web watching this is what we've been.referring to okay so how do we the pbca.review your budget really we're just.looking for is this necessary and have.you provided an adequate support for it.and does it seem reasonable for the time.and place and circumstances so if you're.submitting a budget to us and you your.property is here in the Bay Area and.you're asking for you know two thousand.dollars and snow removal probably gonna.actually you know with the drought if.you're in Tahoe we'll probably asking.you that too but but you know it's kind.of common sense let me give you a real.life example so we got an owner actually.have a pre Mara because they can do.budgets as well.submit a special adjustment requesting a.300% increase in his insurance for the.property and can anyone here think of.any reason why or any circumstance that.that would be considered reasonable JP.don't answer so I know you've seen this.one before.but so it was approved this property was.actually located in Florida which is.where we're also the pbca.seven months after Katrina the owner had.submitted three bids for insurance and.300 percent was the cheapest and some.insurers insurers weren't even providing.insurance anymore to homeowners in.Florida so for the time place.circumstances was absolutely necessary.and reasonable and of course we proved.it.okay so again that was the lesson you.know anything that's reasonable and.necessary will be approved and you know.providing us the backstory the detailed.support and documents and the reasons.why helps make that determination easier.for us and you okay so processing.further more on processing once we've.looked at all of your line items we.actually start plugging things into the.appendix 5 and this is the appendix 5.worksheet that's in the 4351 chapter 7.I've just want a show of hands at least.for the people in San Francisco do you.guys use this at all when you're putting.together your budget okay see some.people but majority the appendix 5 is.actually yeah the forum it's almost like.it sounds like a tax form you know it.says fill in this and then take the.product of a and B and ok great because.what we again as I mentioned before will.we'll get this whole budget package from.an owner you know we won't even adjust.anything everything they're asking for.seems reasonable we plug it in the.appendix 5 and it's probably not what.they were looking for so let's talk.about what this appendix 5 actually does.mysterious thing.okay so it's actually a calculation.worksheet that considers a properties.vacancy distribution management fees.debt service and other income in.conjunction with budgeted expenses to.determine what rent increase or.reduction is needed to maintain current.operations so during processing this.worksheet when complete provides the.maximum allowable rent increase or level.of decrease.we're held to the maximum allowable rent.increase even if the owner requests more.so how does this whole thing work kind.of just a 10,000 foot overview so we.calculate all your aloud expenses we do.that with your budget worksheet you know.if we feel we need to make some.adjustments you know you're asking for I.don't know a 15% increase in something.and the support you gave us at that.great you might say well maybe they.deserve 10% anyway after we go through.that whole exercise we plugged the.allowed expenses into the appendix five.the appendix five also takes into.consideration your reserve for.replacement your debt service your.distribution if you have any at your.property and then management fees and.matches that altogether and it comes out.with a total cash less management.requirement so you have that number so.hold on to that number for a second it.will calculate your rent potential by.applying the management fee vacancy.factor so we'll talk about that a little.bit more detail in a second and then.after that it will does derive an.increase percentage based on your.current rent potential and the newly.calculated rent at Central after all.those numbers get kind of a thrown.together so we'll talk about this in a.little bit more detail so again this is.maybe just a different way to look at it.might be a little bit easier on the eyes.we take your allowed expenses we.actually subtract out the management fee.we add in reserves add in the debt.service add in return that income.reserves.and any authorized distributions and.with that we get the total cash need.less management fees sir probably.wondering what happens to our management.fees there's actually a factor that is.used so let's say for example your.management fee is 7.5 percent and you're.a family property you're allowed was.based on the appendix 5 to have a 5%.vacancy rate would anyone does anyone.know what property would have a zero.percent vacancy rate allowed for budgets.yeah - OH - Zoli properties you know I.think most folks are aging-in-place.not a whole lot of turnover at any rate.so we take 100 percent so for your.management fee factor we take 100.percent - 7.5 and we come out with 92.5.with a 5% vacancy factor we take 100%.minus 5 we get 95 we put your management.92.5 factor divided by your vacancy so.in this case 95 and we come out with.eighty seven point eight eight for your.management vacancy factor that's.actually applied now to your total cash.less management so you know you can.think of like a hundred thousand divided.by 0.87 eight eight and you come up with.whatever that number is so that gives.you your your potential but we actually.need to take out your income now and.income I'm talking about garage laundry.and vending there's a couple others.stores and commercial so we take that.out of the that rent potential as well.and that results in our authorized.potential so.we can finally figure out what your rent.increases now by taking your new.authorized potential and dividing it by.the current rent potential and then.subtracting one and that'll give us our.percent increase or decrease that.percentage is actually applied to your.current rents and then the same ratio is.applied to any 236 rents you might have.at the property as well so this appendix.5 you know you know I I've always.wondered because you know I'm not an.owner agent but I've I've really.wondered when owners and agents are.putting together the budgets if they.factored this in because it it does have.a big impact on what the final rent.can't be and that's why I was asking.earlier so you know there are times.where the rents are actually decreased.and if you're doing an option to your.rents will most likely be decreased if.this is what you turn in to us.same with an option for you know we're.taking the lesser of your budget or okay.at renewal time and obviously if the.budget is going to be a negative we're.going with those lower rents so those.are decreases and actually greater than.five percent overall increases are.subject to HUDs review and approval but.if HUD signs off and says yep it is what.it is we will put your final rents on to.a new rent schedule send them out to you.you do have the opportunity to appeal.that if you disagree and we usually have.not usually we if we do receive an.appeal we assign it to someone who's.arms-length so another asset manager at.kahe who had nothing to do with the.initial review and they take a look at.it and make their determination if you.still don't like it you can go to HUD.for the second and final review and.appeal after you get through all that.and you finally do sign the rent.schedule you send us the fully executed.rent schedule we do some funding stuff.in the whole process is done and you can.submit for a gross rent change on your.ouch errs so it kind of takes us whole.through the whole process of doing a.budget is there anything I can answer.for you guys usually our distribution.how is it distributed.okay so fight well as you can you hear.it online or he'd need to okay in this.calculation it appears that it's a.zero-sum calculation where there's no.net earnings it's basically designed to.zero out to where it covers expenses how.is an owner who invests substantial.equity to acquire or maintain a property.to budget for any form of distribution.given that the budget doesn't seem to.account for that of course though is a.hard question that's me actually.sounding like I think we have a special.circumstance where we do be a capital.repairs if ya in the past we've also.allowed like construction management.fees if it's you know a one-time like.you said acquisition and Rehab where the.owner is the construction manager and.we'll allow that for a limited.predetermined time frame usually two.years typically eighteen months to two.years but yeah we don't build in a.surplus cash cushion because things have.changed quite a bit with lytec recaps.we're now there.so typically there needs to be some.equity infusion now to do one of those.deals let's say five million dollars.from whoever the sponsor is right and.then there's no ability for them to get.any return on investment under this type.of scenario it's going to discourage.future investment typically though the.HUD will in development had will bill in.something at least for the short term.those didn't say I mean would that play.into a lot of the early terminations and.refinancings that have been going on.especially here in the Bay Area right.yeah so you probably know more than I do.but I think HUD production works with I.guess the developers and the investors.to factor that in it works upfront the.longer-term you're eight nine ten and.the owners are saying I'll be getting a.zero return we've got five million.parked in here and sustain operations.but typically those kind of properties.once the you know the rehabs done I've.seen in fact the vast majority of them.then at year two or three will come in.and they'll be more than eligible for a.markup to market situation and then and.then there is no budget hole you know.holding you it's just the comps but your.brain because because you're bringing a.property up to the comps presumably yes.I'll repeat the question.so the question is we have a person here.who has a building.part of it is project-based section 8.and then sounds like some of it is also.low-income housing tax credits and then.also across the street even are just.plain old market units that are ok.market units going for four thousand.dollars a month which is a lot and the.question revolves around the alternative.to the rent comparability study which.was as we talked about earlier x' if you.have a mixed property you may be able to.use your your market units as your.comparables the best thing I can do like.right here is to suggest you look really.closely at chapter 9 of the section 8.renewal guide that X that explains in.detail the the requirements for rent.comparability studies and also the.alternatives as well so yeah and if u.s-- lot more questions you're more than.free to email I'll get someone else.to answer it all right any more.questions.very acceptable and some sort of us that.you know cost the parties and stuff do.you have a list of those so the question.is there are some unallowable costs to.be considered I guess in in the budget.based run adjustment.I guess evaluation and the question is.is there a list of those I guess on.allowable expenses and I personally have.not seen one I'm looking to Robin and.she has not either so yeah the best.place to start okay.any more questions okay we are not able.to get questions from okay all right.well thank you everyone for your time.okay good morning again I'm Robin.Thompson I'm a project manager here in.the San Francisco HUD office I formerly.was for the Sacramento so if you know.from me from there it's the same person.okay so we're going to talk about rent.increases in project-based assistance.contracts prax.and so you know if you have one of those.you know you have that some of you might.have both a half and a prac but anyway.so we're going to talk about that today.I'm your facilitator your PUD project.manager you should know who that is and.it is a bi project assignment so you.might actually have several that you.work with if you're not certain.we've been shuffling the deck chairs.around a lot lately even between states.so if you don't know for sure this is my.direct line give me a call I'll look it.up for you.be easier and then we have a new.practice ending coordinator named Julie.Eklund she's been with us for about.eight or ten months now and she.specifically she's the ones that's gonna.send you out your contracts to sign she.does the rent and if you haven't put in.a rent schedule or it needs to be.changed she helps us out with those she.also put in puts all your Pratt attracts.data okay.be kind to Julie if you want to get paid.and then this is our supervisory team.okay program eligibility these are for.section two and 811 with prax of course.there's the requirements for both if you.don't have those properties then you.might want to go ahead and have an early.lunch because that's what we're talking.about today.here's your tools of the trade I've.decided to set this up I was thinking.one day that you know we know this stuff.is dry as a stick I understand this I do.it all day so having said that I thought.you know why would people stand in line.for two hours to get on a ride at.Disneyland and they don't want to wait.twenty ten minutes at the grocery store.and it's because Disneyland is fun so.I'm gonna try to make this fun.and what we're going to do is I'm going.to make it like a recipe so it's a.little bit easier to follow you can look.back at it later and and just change.your mind from work to baking okay so.make it nice so you first your tools of.the trade this is like your bowls and.skillets and stuff you have had handbook.43 50.1 which Charles was talking about.this is the Grand out of the multifamily.handbooks it was written in 1992 is our.last revision some of you probably.weren't even born yet.but it's still it's it's a good like you.said it's a good pillow but we want.chapter seven and that's because that.goes over our budget based rent.increases and we've been using it.obviously for 20 years then we have our.housing notice Oh 217 that goes over.prac renewals okay then forty-three 50.3.another three-inch manual of doom but.we're only talking about just the tracks.and the tenant requirements and you'll.only need that if you have a problem in.those two areas okay and then HUD clips.is of course our online and and phone.form system and our new centralized.mailbox we'll talk about that in a.minute.okay so crack renewal recipe is so you.to renew you go one year at a time all.we should taking these out and we need.it for months in advance I'm sorry we.should have taken these these are.supposed to be taken out so I apologize.let's go past these real quickly okay.rent increase ingredients here we go.okay so there's eight ingredients we're.leaving this like a like a recipe the.date ingredients and that's not too bad.I have recipes that have 30 so this.isn't bad right it's only eight so you.start with a cabin or a letter that.that's a summary of your budgetary needs.we're gonna talk about each of these.individually in a minute okay so for.time let's go through it pretty quickly.your budget worksheet the explanation of.the line item increases copy of the.notice to tenants the executed copy of.the owners certification regarding.regard.purchasing practices and reasonableness.of expenses your rent schedule your HUD.form 9250 if applicable this is more.like you can leave in or out the cayenne.pepper okay if you wanted if if you need.an increase in that it may or may not be.in there any utility allowance and.that's like sugar and the sugar cookies.we have to have utility allowance okay.chilli analysis okay so the cover letter.should briefly summarize the amount of.the increase why it's needed the day.it's effective and any proposed changes.so this is real briefly I mean it's two.paragraphs don't put a lot of time into.it but we would like to see the.percentage and the amount and if there's.a real big.we'd like a 22 percent increase we're.gonna hire a Service Coordinator okay.just to cause an effect real quick.okay further guidance is in Chapter 7.they actually have a sample in their the.budget worksheet Charles already went.over it's the same one.it is appendix in appendix D or 4d on.HUD clips it is a PDF file it is not a.fillable there but it is widely.available in the industry I think Dhamma.has it as a fillable and savable PDF so.save yourself some time use that one the.first column is the statement should.reflect the statement of profit and loss.that you sent to HUD I like a couple of.times it mean typically I mean why.reinvent the wheel your auditors already.done in that column one but once in a.while I will get one that's completely.different I'm gonna send it back okay.that that that should reflect what.you've sent to us in in the FATA system.column to please put it at the top how.many months that reflects because that's.a partial year and that people kind of.question that it really is a good.indicator especially if like three or.four years ago there was the big bump in.workers comp insurance so this is a good.tool for us to see oh yeah they did.their sewer he did really go.last year you know it helps with your.explanation so that's basically what.that's for and then the variances.between columns one and three must be.explained okay okay.ingredient number three is an.explanation of the line-item increases.we'd like to see an explanation for all.of them especially if they're really.large some verification forms would be.really good for instance for our last.example if your workers comp one up 30.percent just send us a copy of the.Declaration page you know that's that's.easy right there is actually a.comprehensive sample in Chapter seven to.forty three fifty point one I didn't.even know that was there until a couple.of months ago so there you go I learned.something but yeah there is in there and.it gives you an idea of how to write.that up okay.ingredient number four is a copy of the.notice to the tenants yes I would like.to see an actual copy of the notice to.the tenants because chances are you're.just photocopying it and so just send us.a copy but we need to know how it was.distributed so like there I have it I.have a an example.okay the laundry room posted on.everybody's door we mailed it to.everybody however you did that we need.to know that okay but a little bit more.about the tenant notification it is.required there's a 30-day comment period.after the 30-day comment period and we'd.like to see it that if you send it in.before that we're not going to look at.it until the 30-day comment period in so.don't try to be a sneaky pete we can't.do that okay and please trying to make.sure you get it out timely because if.you send out the 30-day comment period.supersedes your in your renewal date you.know you're not going to get your you.know you're gonna give a kick up in your.vouchers so okay none let's see where we.get okay number five is the executed.copy the owners certification regarding.purchasing practices and reasonableness.of expenses this is appendix three in.Chapter seven.just it has to be in there okay.and then the rent schedule also a PDF.form and clips also hi clips also widely.available see AMA as a fillable PDF.again part beam we're gonna go I.actually have a slide of this part B.should coincide with your original.appraisal form which is HUD ninety nine.two four four four six four yeah and on.page two we do need you to list your.current board members and if any of.those board members are new please check.with us and make sure that we have.twenty five thirty clearance on them.that's pretty typical thing that we find.out like oh okay oops so this is what.the top of the rent schedule is going to.look like Thompson Park Apartments is a.beautiful property really real easy.I'll make sure in column five you have.the effective date of the utility.allowance not often but sometimes that.is a different date you know and then.we're gonna look at column B so if it.had a range of refrigerator air.conditioner basically those things if if.I see especially I'm from SAC most of my.properties are in Sacramento if I see.that there's no air conditioning in.there anymore where you're gonna get a.phone call so we need to make sure that.that you are maintaining everything that.was there originally and if you don't we.need to know why you know again the same.thing with the utilities what's paid for.you check in addition services and.facilities if it's check that means.you're paying for it I've had proper.problems with that with parking.specifically if you see there under.services and facilities I've checked.parking at Thompson Park Apartments we.have free parking if you have paid.parking don't check that put it down in.part see as that as something that's a.fee and and and list it as a fee okay.you know it's it you know people do yeah.we have a parking lot and they check.that but what you're checking berries.you're saying that you're that's free.and honestly if somebody came in six.months late or a tenant and said they're.charging me for parking even if you've.always charged that if the rent schedule.says you don't then we're gonna have to.until that rent schedule expires you're.gonna have to give that person free.parking so I want to do that not in.sacrifice an Francisco for sure okay is.there any questions about the rent.schedule before you go on yeah yes on.the back yes on the back there's a place.for the owner to sign it's on the top.right signature line typically that's.going to be you know in it for a.non-profit it's going to be one of the.board members unless the owner the the.management agent has been given you know.that capacity unfortunately don't have a.picture of the back but okay now all.we're going to talk about my favorite.funds authorization 9250 and we're not.going to talk about it actually about a.release from the reserve replacement.although what we're going to talk about.pertains to both but what we're talking.about here is asking for an increase in.the amount of the monthly reserve for.replacement which is a budgetary expense.if you think that it's not ramping up or.you you know you're doing have done a.PCNA or your property is 10 years old.and you think those roofs you're gonna.be needing replaced in a couple of years.and the reserves are just not going to.address it then we need to bump that up.and that would be part of your rent.increase and it can be substantial if.you haven't you know kept track on that.so if the budget increase has a reserve.replacement deposit then we have to have.the HUD 9250 again it's widely available.as a fillable PDF HUD doesn't have it.fillable and i'm gonna stress this we.even have a picture in just a minute but.this is a pet peeve of Robins so you're.gonna get a little extra training on.this it's the name in the dress in the.top left that says mortgagee that's the.financial institution that.holding the money please make that the.name and address and down in the bottom.left there's the one that says mortgage.or whoever you want to get a copy of.that in your organization get their name.and dress in there okay so let's take a.peek so here's Thompson Park Apartments.again they have Wells Fargo one two.three first Street okay so it's a full.address and then down here in the bottom.soaring robbing property management.that's who's going to get the the copy.for the owner okay does anybody know why.we do it that way any funds at all.because we're gonna fold it toward that.shows through the envelope really.honestly this is going to sound really.kind of chintzy but we really don't have.time to cover letters anymore so you.know we're gonna fold it and if it's.incorrect we're gonna get it back.because you know like I have 73.properties in my portfolio so anytime we.can cut corners Thanks helpful please do.that for us so yeah so that should be.there and then we'll make sure it gets.the right place and down here that.should have that and we fold it to where.that goes through the art there that.your your copy of it and everything's.great if that's not like that then we.give it to our friends okay.and finally ingredient number eight is.the utility analysis basically the same.thing that Charles again was talking.about this is only if you haven't it to.utility allowance but probably everyone.here does does anyone not have a utility.allowance yeah I have I have a few.properties in Alaska that do not but for.the most part I think most of our.practice are written with utility.allowances okay.so well we got this is wrong here we.have the old Tomlinson broto memo it's.actually now the new housing notice that.just came out a couple of weeks ago I.apologize we guess we got the wrong.stack in here but anyway talks about.that there's 10 person 10 percent less.than three not more than 20 somebody.called me and said well we've only got.two two-bedroom units in a.Priti use them both don't make up a.third one to pretend they're today.that's okay we get it.no yeah and again not more than eighteen.months old all of the it should be in.the same timeframe so if you have.studios in one bedrooms you know make.sure they're all February to you know.June of 2015.vacancies are not included.for obvious reasons that's gonna really.skew things and you tense will be really.upset with you and there is a sample.Excel spreadsheet available check with.your property manager a lot of our.bigger management companies you guys.have already come up with your own.spreadsheets that's fine we do have one.if you don't want to reinvent the wheel.let us know we'll send that at you it.looks like that so it already was it out.for you.pretty simple spreadsheet like I said.most of you probably your accounting.departments are already done that or.you've done one on your own but we do.have it if you need it okay and then you.just combine all the ingredients and.submit them to your pre heated hot.office in that a nice kitchen I like.that picture okay.I'm real quick I wanted to just touch.real quickly we've got like two minutes.so I want to talk about aligning your.project your practical year-end I have.several my properties that I suggested.that sometimes we just don't have time.at the time so this might be a good.opportunity to offer it up we can if.your fiscal year is say its calendar.year its January 1st to December 31st.but your track renewal.can align those and just talk to your.project manager about aligning them and.what we will do is one year we will only.renew the contract let's say in this.example it's March 1st we will renew it.one year for March 1st to December 31st.the following year then it'll be January.1st the problem with that is you're only.allowed one rent increase per 12-month.period so you're going to have to kind.of you know figure out which side of it.you want to forego the rent crews in.that in that in.since what I would do is take one and do.the short-term renewal from January 1st.to March 31st don't take the rent.increase for three months take it April.1st you know to the end of the year and.then start over with January first so.just you that's okay if you have a six.month renewal oh well but yeah you're.welcome to take it on either side that's.the only glitch with it but and then.again the whole hundred and twenty days.then but then it's much easier for you.and your staff obviously the rent.increase the budget the renewal it's all.in the same day for that project okay.and we're going to quickly talk about.the new centralized mailbox it's not.realreal new anymore but this is San.Francisco's office and you should have.all gotten an email I think it's been.about six months ago but anyway the.benefits are that it's very convenient.you just use you send us an email PDF.your documents you know attached PDF.documents.saves your money you know you don't have.to run to the post office there's no.mail it's one address so you don't even.know I have to know who your project.manager is you just send it to that.email address then and also that's the.customer service component of it because.our HUD staff will log it and tickle the.PM and Industry to the proper p.m. and.then tickle them and tickle their.supervisor if it's getting a little.close to being late and then if it's.late so it kind of keeps us honest -.really really good good program I love.it.and there's that's the picture of the.email you should have gotten a while.back says basically what I just said but.that's that's a CA /mf F that's easy.just send it to that PDF files you're.done you don't have to call anybody.anything few caveats.oh it's and here's how the format so.they looked on the line I input the.request type the FHA or contract number.in the project name so it would be.management.there's a project in Thompson Park okay.that's your subject line that's all you.have to do you don't have to put.anything you know unless you want to say.thank you I like your hair you know make.it nice and then this will but to reduce.email complication or duplication just.in that one don't send it and then copy.your PM if you know who that is one or.the other please because otherwise it's.going to be logged and we're going to do.it and then they're going to come back.and say you didn't do this and it's like.yeah we did it's kind of crazy for us so.one of the other please and oh and then.project managers will continue with.technical assistance so this is just for.the bread and butter stuff your rent.increase twenty five thirty s management.certifications things like that if.you're having trouble with tenants if.you have a questioning like that field.always email us call us okay but here.yeah so I just said this is and you can.always still send it us mail but please.don't put do both because then again big.duplications don't do not do both either.use that just quit using mail send it.all to that that website I mean that.that's what I like a lot of us to our.teleworking now you know I myself I'm.only here a few days a week and so you.know if you email it to me and I then I.have it at home you know I'm gonna jump.right on it so you know that that's an.advantage for you you know if it's if.it's sitting in my mailbox and and it.came in on Friday I'm not gonna see it.until like the following Tuesday maybe.you know and to order handbooks and.forms and notices there is an 800 number.it's been the same number since I've.been with HUD and I've been here for 24.years it takes a month or two to get it.because they send everything media mail.and use anybody actually print our.handbooks anymore I mean they're like.Bibles are huge you know so but you but.you know if you want a paper one will.still mail that's your no problem in.fact you can order ten copies if you.want to one address right.but or you can go on head clips and.everything you can look at it I have.everything just like downloaded and and.mile 9 downloaded I just got got what do.you call the little things favorites.yeah a shortcut thank you so I just have.shortcuts to all the chapters that I use.the most and save a few trees folks ok.questions does anybody have any.questions yeah thank you for asking yeah.he asked if if we use the appendix 5.from 43 50.1 for our analysis yes we do.we do yeah so exactly the same and in.fact most of you or 202 so it will have.a we'll also use a 0 vacancy factor she.had another question yeah the question.was I said we want an explanation of all.increases and the question was is it.like hockey words the the 5% or 500 rule.typically we would like to see an.explanation of anything that's an.increase but increase is kind of because.it's hot it's not a contractor you know.charles and his and his group you know.are bound to a contract and it's very.very stringent and so they have to have.much more stringent parameters if if we.are comparing what you did last year and.then the column 3 like i said that shows.you know there's a variance of a percent.or two and that's what you have there.then we're probably not going to.question it but it's also real easy to.just do a notation 5 percent increase.across the board for all of our.staff for instance and that would be for.several line items so yeah we really.would like an explanation for all them.just just a sentence or two yeah there.are any other questions yes Matt I had.one just slightly off topic and that's.not renewals if you have say nine years.remaining on a half contract and you're.doing a recapitalisation ten years if.you're that much time remaining is it.possible to get a one-year extension or.is that gonna say we will offer you a 20.or how would that work if it's necessary.to kind of put the deal together and.extend the affordability of the property.in recapitalize it okay the question was.about the actual time frame for renewal.and this would obviously be for half.because prax are bound to when you're.renewal still there they're working with.Congress but that is literally an act of.Congress to change that so that you so.practice you're still in one-year.renewals but in terms of a hap.yes especially if you're recapitalizing.with us through our production with an.FHA you know a product you know you can.talk to your production person about.that but yes I have seen that done yes.right yeah so yes we do typically we.want to see it you know that that you're.committed to a 20-year contract.ultimately and usually your mortgage.company does too so if that's a win-win.but yes it just - just to make things.pencil yes oh I have seen special.circumstances where we you know do short.term renewals to align Thanks yes we.always want to do a 20-year you know we.do we want we want the preservation but.and especially if there's going to be.insurance exposure meaning that you are.coming in with an FHA model we we we are.really all about the preservation but.like I said.if it was a situation to make things.align or pencil yes they would do that.short-term if there was a commitment to.affordability right the lender was a non.in shape again you that would be a.production question yeah the question.was what if it was not an FHA deal and.like I said that wouldn't be a.production question and feel free.anybody that if you if you had these.questions and don't have a contact with.our production staff feel free to give.me a call and I'll put that together for.you okay so certainly other questions.yes okay the question yeah the question.is if there's a recapitalisation you're.talking about a prac okay with the Pratt.contract if there's a recapitalisation.that would be over ten percent what yeah.it would definitely go beyond your.project manager you're correct what.would they be looking for I don't think.it's necessarily as much the percentage.although you know the threshold would be.the percentage anything over not.necessarily even just 10% but what it.would be more what the what it was for.you know if it was ten percent because.you recapitalizing the property we might.want to look into a different way of.doing that than just a rent increase you.know there's other depending on what the.timeframes there may be other.recapitalization products available but.in general it's it's not a percentage.that percentage it's what needs to be.done okay just answer the question.yeah yeah.reasonableness but yeah exactly it would.it would depend on what you're doing and.and when's the last time you did that.and and of course we probably want to.come out a lot of times things like that.it if you had a if it's generated like.by a react score it's almost no question.that we will you know work something.where we bump up the reserves or.something on that order to address those.absolutely any questions other than that.yes okay that the question was is it.similar or same four to thirty six so.you still have an old straight to thirty.six no subsidy that's really different.I'm sorry yeah to thirty six is.typically are specifically budget based.and we have and and they're all unique.and they each have their own formula for.the the percentage of difference between.them basic and the market rates of rent.that's in your your usually it's in your.regulatory agreement its bill that in.your regulatory agreement sometimes.there's a use agreement if it went.through preservation back in the 1990s.those are real unique animals so work.with your project manager on most any.other questions okay the question was in.practice that the rents for one in two.bedrooms are the same and is there.rationale for that not always there not.always maybe yours are I see that more.with 811 properties and I honestly can't.tell you why except that that's just how.they were you know they they wrote them.in at the outset I have had ADA live.never had a - OH - that was like that.that had saying.one's and two gauges or or efficiencies.in one bedrooms but I'm sure there are.out there I have actually increased you.know the on an eight eleven that had one.and two bedrooms I have actually.increased the two bedrooms more than the.one bedrooms even though it was you know.insured with them the same so that can.change yeah but again budget based so it.doesn't really matter you know it's you.you can't get more any other questions.thank you all very much thank you for.coming oh we want to apologize now for.all the delay at the beginning we will.not make these mistakes for our next one.so please feel free to come down and.join us for our next training if you.have ideas just open up a yellow one of.my yellow pad pieces of paper if you.have any ideas for upcoming training.that you'd like to see us provide as a.free service here and on a webcast just.put your note on my yellow pad paper in.the back again thanks to Charles and.Robin and davon I wish you all a good.day and for you on the webcast.have a good day as well.you.

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Hud 92547 A Form FAQs

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Do military members have to pay any fee for leave or fiancee forms?

First off there are no fees for leaves or requests for leave in any branch of the United States military. Second there is no such thing as a fiancée form in the U.S. military. There is however a form for applying for a fiancée visa (K-1 Visa)that is available from the Immigration and Customs Service (Fiancé(e) Visas ) which would be processed by the U.S. State Department at a U.S. Consulate or Embassy overseas. However these fiancée visas are for foreigners wishing to enter the United States for the purpose of marriage and are valid for 90 days. They have nothing to do with the military and are Continue Reading

How can I make it easier for users to fill out a form on mobile apps?

Make it fast. Ask them as few questions as possible (don't collect unnecessary information) and pre-populate as many fields as possible. Don't ask offputting questions where the respondent might have to enter sensitive personal information. If some users see you collecting sensitive information, they might not be ready to share that with you yet based on what you are offering, and they will think twice about completing the form.

Which one is correct, "fill in a form" or "fill out a form"?

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How much rent will I pay on Section 8?

If there are no landlords willing to do section 8 it doesn’t matter how much section 8 will pay. It’s not a law that you have to rent to section 8, and section 8 has requirements not all landlords are willing to do. San Francisco real estate is very costly. I’m not sure there are any areas where section 8 is more profitable then renting to high paid tech workers.

How do you calculate 30% of rent?

Non-entrepreneurs tend to believe: If people say “that’s a great business idea”, it would be a good business If they get a negative reaction to something I shouldn’t do it anymore I should stick to thing that are in line with my past experience; if I’m building 10 widgets a week, getting to 11 would be great Uncertainty is a bad thing and it’s best to minimize it I should look at the biggest companies for examples of what entrepreneurial success looks like, and if I can’t do that I won’t do well If I’m limited by an external rule that someone imposes on me, there must be a good reason for it I can’t Continue Reading

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