HOTMA Compliance News

We're committed to keeping you informed about the latest developments regarding the Housing Opportunity Through Modernization Act (HOTMA) and TRACS 2.0.3.A.

On Friday, September 20, 2024, HUD issued Notice H 2024-09 (Notice H 2024-09) extending the compliance date, by which Multifamily Housing (MFH) Owners must be in full compliance with the HOTMA final rule, to July 1, 2025. Previously, HUD Notice H 2023-10, Section 6.2 of “Implementation Guidance: Sections 102 and 104 of the Housing Opportunity Through Modernization Act of 2016 (HOTMA)” established a compliance date of January 1, 2025.

The Notice does not specify the delivery date of final requirements for TRACS 2.0.3.A.

As a OneSite^_® customer, below are some updates to keep in mind:

• OneSite Affordable has been updated to meet the defined requirements of TRACS 2.0.3.A/HOTMA and is prepared to implement these changes. Our product management team is actively monitoring updates to ensure we can quickly apply any final adjustments required by HUD.
• For customers using OneSite Tax Credits, HOTMA rules have been enabled for all Tax Credit programs. OneSite is being updated with new HOTMA-supported TICs as they become available from state agencies.

• RealPage is set to release updates in line with HUD's deadlines for HUD Project Based programs (TRACS 2.0.3.A) and for Public and Indian Housing systems.

  The use of HOTMA values and calculations for Rural Development will require the certification wizard in New OneSite. Beginning on January 23rd, popup messages will be presented in Classic OneSite for all areas of the application that involve a certification to encourage and prepare users for the HOTMA deadline coming in March, which will require this transition. The redirect popup messages will guide users to the actions in New OneSite and will include links to resources on how to complete the actions in New OneSite.

  Beginning with the March 22nd release all classic OneSite users will be redirected to the new OneSite pages for the following functions within their Rural Development projects:

  • Affordable Waitlist
  • Quick Qualify
  • All Certification Actions
  • Move in Checklist
  • Transfer Checklist
  • Gross Rent Change

  Special redirect training is available for these six items. Please encourage all your RD users to register and attend at least one of these special webinar training sessions:

  1. Wednesday, January 22nd at 1:00 PM CST - CLICK HERE TO REGISTER

  2. Wednesday, February 19th at 1:00 PM CST - CLICK HERE TO REGISTER

  3. Wednesday, March 12th at 1 PM CST - CLICK HERE TO REGISTER

Additional in-depth training for OneSite Affordable and related updates may be found on the RealPage Training Workshops page

We will continue to provide updates and appreciate your ongoing support.