Answer: Two security deposits for former tenants were not refunded on time.
Trend: This issue highlights a pattern of management oversight regarding deposit refunds.
List: Management should ensure refunds are processed promptly to comply with HUD requirements.
Finding Text
Condition: 2 security deposits for former tenants have not been refunded; Criteria: the HUD occupancy handbook requires deposits to be returned within 60 days of move-out; Effect: None; Cause: Management oversight. Recommendation: Management should process the refunds. Management comment: Management will process the refunds.
Categories
HUD Housing ProgramsInternal Control / Segregation of Duties