Frequently Asked Questions Asset Management: Reviews
Other Questions
REAC Inspections
General Reporting
Reserves
How often will my property be seen by WHEDA staff? 
We use a risked based system to determine the frequency of visits to
your property.
The four risk factors that we use to assess a development are:
- Financial Risk
- Management/Development Risk
- Market Risk
- Physical Risk
Your score in each of the factors is weighted and will determine the
frequency of visits to your development. You may have more frequent visits
if required by the loan and regulatory requirements.
What will WHEDA be looking for when a management review is scheduled?
For a property with project based Section 8, we are required to utilize the HUD Form 9834 Management Review form which is a 25-page questionnaire plus addendums. The areas looked at (taken from the Summary Sheet) are:
- Occupancy files (current and past)
- Waiting list
- Rent roll
- Maintenance records
- Marketing Plans
- 504 Fair Housing and equal opportunity plans
- Financial and other accounting records
- Other documents as requested
- Physical review of the property
For all other properties, a similar form is utilized which covers the same areas.
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