DEPOSIT PAYMENT PLANS REQUIRED
TOUGHER SECTION 8 INSPECTIONS
Philadelphia’s Move-In Affordability law changes how landlords collect money from new tenants. Application fees are now capped at $50 or the actual cost of screening, whichever is lower. Landlords with three or more units must also offer a payment plan when the security deposit is more than one month’s rent. That sounds simple, but what happens if a tenant moves out before the full deposit is paid and leaves damage behind? Landlords need a clear system to track what has been paid, what is still due, and whether enough money is available to cover repairs. Without a clear system, security-deposit rules designed to help tenants can quickly become a cash-flow and bookkeeping nightmare for landlords.
Many apartment owners have learned how to navigate the Section 8 Program’s Housing Quality Standards (HQS) Inspection, but National Standards for the Physical Inspection of Real Estate-Voucher (NSPIRE-V) raises the bar. Apartment owners participating in Section 8, PBV, and RAD PBV programs now face a stronger focus on health, safety, and habitability standards. While some landlords view NSPIRE-V as just another inspection, many are not prepared for the increased compliance expectations . Those who invest in preventive maintenance, staff training, and compliance readiness will be better positioned to preserve reliable cash flow, avoid failed inspections, and protect their long-term investment.
THOSE WHO INVEST IN PREVENTIVE MAINTENANCE WILL BE BETTER POSITIONED.
SECURITY-DEPOSIT RULES DESIGNED TO HELP TENANTS CAN QUICKLY BECOME A BOOKKEEPING NIGHTMARE.
Gita Faust Accountant & Landlord Fast Trac Accounting Connect with Gita
Dr. Michael Threatt Principal & CEO
Elevate Housing Solutions Connect with Dr. Threatt
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