Answer: One tenant did not receive their security deposit refund after moving out.
Trend: This indicates a potential issue with the management's handling of security deposits.
List: Review all tenant move-out procedures to ensure compliance with refund policies.
Finding Text
Condition/Context In connection with the procedures applied to a sample of 2 tenants that moved out of the project during the year, we noted 1 instance where management failed to refund the tenant security
deposit.
Corrective Action Plan
Management will change its policies and procedures related to refunding of tenant security deposits to comply with the thirty-day timeline required by HUD regulations.