Finding Text
Finding No. 2022-001 1. CONDITION ? Late refund of security deposit in one of five refunds examined. 2. CRITERIA ? Refunds of security deposits must be made on or before 30 days after the tenant?s move-out as stated in HUD Handbook 4350.3 Rev. 1, Chapter 6, Section 2, paragraph 6-18. 3. EFFECT ? Noncompliance with HUD?s stipulated requirements related to refund procedures. 4. CAUSE ? Management Agent did not process move-out documentation in a reasonable time period to comply with HUD?s regulations applicable refunds. 5. QUESTIONED COSTS ? None. 6. RECOMMENDATION ? Management Agent must assure that move-out documents for refunds of security deposits be processed within a reasonable time period to comply with HUD?s regulations.