Answer: A tenant's security deposit was not refunded on time.
Trend: This issue indicates a potential pattern of delays in processing refunds.
List: Review refund processes and ensure compliance with the 30-day requirement.
Finding Text
During our Testing of Move-Outs, the following tenant’s security deposit was not refunded within 30 days after the move-out date:
Corrective Action Plan
The Project will adhere to the HUD directive that within 30 days after the move-out date, the Project must refund the full security deposit plus accrued interest to a tenant who does not owe any amounts under the lease.