How HDS Allita Supports Affordable Housing Organizations
The Housing Opportunities Through Modernization Act (HOTMA) introduces significant regulatory changes, requiring compliance by January 1, 2025. These updates are designed to enhance efficiency, streamline housing programs, and improve program integrity. However, for affordable housing organizations, navigating these changes can feel overwhelming.
At HDS Allita, we are here to support you every step of the way. As a homelessness prevention and housing stabilization partner, we leverage cutting-edge tools from HDSoftware, including the newly updated MFX Multifamily Compliance Manager (Version 3.1). This integration allows us to simplify compliance processes for our clients, enabling them to focus on their mission to provide safe, stable, and affordable housing.
Understanding HOTMA’s Regulatory Updates
HOTMA introduces several critical updates that directly affect housing providers. For instance, stricter rules govern household income calculations, requiring more frequent reviews and adherence to updated income thresholds. Additionally, clear definitions and valuation standards for assets now play a key role in determining tenant eligibility.
Moreover, HOTMA simplifies reporting by consolidating standards and reducing administrative burdens. At the same time, new Housing Quality Standards (HQS) provide flexibility by allowing landlords to self-certify minor repairs and offering jurisdictions the ability to adapt standards to local needs. Finally, strengthened program integrity measures ensure fraud reduction and equitable housing access.
How HDS Allita Supports Compliance
By using HDSoftware’s MFX Multifamily Compliance Manager, HDS Allita delivers tailored solutions to help affordable housing organizations adapt to these updates. For example, automated tools streamline income and asset calculations, while customizable reporting features simplify documentation. Furthermore, this partnership ensures our clients are fully equipped to meet HOTMA requirements while minimizing administrative effort.
Join Us to Prepare for Success
To support our clients further, we encourage you to join HDSoftware’s online meeting on Tuesday, December 10, 2024. This session will provide a detailed overview of HOTMA regulations and demonstrate how the latest software updates address these changes.
Partner with HDS Allita
At HDS Allita, we are committed to providing the expertise and resources affordable housing organizations need to thrive. Together with HDSoftware, we empower our clients to meet regulatory demands while advancing their mission to serve communities in need.
Don’t wait—register for the December session and take the first step toward a smooth transition to HOTMA compliance. Let HDS Allita be your trusted partner in achieving housing stability and success.
Visit HUD.gov for more information on HOTMA and HDSAllita.com to discover more about our compliance products.