New Financial Reporting Requirements using

RIHousing's New Procorem Software

• All financial submissions for budgets with fiscal year ending 12/31/24 should now be uploaded to their Procorem workcenters instead of being sent to Asset Management mailboxes. After the 12/1/23 due date for budgets, all future financial submissions, including budgets, audits and quarterly IOS statements, should be uploaded to related Procorem workcenter folders on or before their due dates. This means there should no longer be submissions to the following mailboxes after 12/1/23: budgets@rihousing.com, ios@rihousing.com and audits@rihousing.com.
  
  
• RIHousing Asset Management staff held a training on October 4, 2023 to explain the upcoming changes to the financial submissions through Procorem. If you or someone on your team who submits periodic financial reports missed this training, please visit our website. There where you will find the authorization form to register, the PowerPoint slides and a recording of the training session. You also have the option to grant access to your auditor. Please remember to complete the new financial submission form to accompany all future submissions. A blank version will be located in "Final Submissions Template" folder in the workcenter of the development.
  
  
• Register for access to your workcenters in Procorem here on the right side of the page (see “User Authorization Form”).
  
  
• Access training and materials here in the “Procorem Resources” section.
  
  
• Please direct any questions or concerns about the new financial submission procedures to Susan Halloran, Financial Assets Manager, at shalloran@rihousing.com or 401-450-1339.

Helpful Tips and Tricks

• Prepare for winter and remind tenants of snow removal policies and procedures. Remind them of the danger of flammable or combustible items on or near an appliance that provides heat, such as space heaters or gas burners.
  
  The Rhode Island Office of the State Fire Marshal has several resources you can share.

• Does your property receive federal funding? If so, be sure your tenant selection plan (TSP) contains language relating to citizenship and the disclosure and verification of the complete and accurate social security number assigned to each household member in accordance with Chapter 3 of HUD Handbook 4350.3. 

NLHA Education Fund Now Accepting Applications

The National Leased Housing Association (NLHA) recently announced that it is accepting applications for its scholarship programs.

About the Scholarship

The NLHA Education Fund awards four categories of scholarships to residents living in privately owned, federally assisted rental housing. Applications are due by April 12, 2024.

Who is Eligible

Federally assisted residents (Section 8 PBRA, PBVs, Vouchers, RAD, Tax Credit) are eligible to apply for one of four different awards. High school seniors, current undergraduates, non-traditional students, and those seeking a technical/vocational degree are encouraged to apply. Please note: applicants may only apply to one category.

Get the Word Out

Please share the NLHA Education Fund's press release with your service coordinators, project managers, site managers and residents. Please post the attached flyer in the common areas of your properties. You can also direct your residents to the FAQs posted on NLHA’s website.

Helpful Training Resources

See the links below for Training Resources:

• Property Managers & Owners Training Opportunities - Procorem Trainings
• NCSHA
• Ross Business Development
• NEAHMA
• NCHM
• IREM Event Calendar
• RIHousing LIHTC Compliance Manual
• IRS 8823 Guide

Releases & Reminders

• Procorem Tenant Data Reporting
• HOTMA - Get Trained!
• HOME Program Bulletin and 2023 Income and Rent Limits
• FY2023 Multifamily Tax Subsidy Income Limits (MTSP) - LIHTC Program
• FY2023 OCAF

• 2024 Rhode Island Housing’s Housing Finance Agency Utility Model

• FY2024 Fair Market Rents

• HUD's updated 9250 form for reserve requests

• Section 8 Contract Administration Program Forms & Manuals

• RIHousing LIHTC Compliance Manual

• See RIHousing's open positions

• See RIHousing's latest Requests for Proposals
• Click here for information on partnering with RIHousing

• Not sure who your Asset Manager is? Find out here.

Have Available Units?

Reminder that per the RI State Law, RIHousing-funded developments are required to list available rental properties on housingsearchri.org

Site Contact Information

Need to update your site contact information?

Owners and Managers can access the form below to update site contact information.

We'd love to hear from you!

To provide suggestions for information you would you like to see in future Property Matters E-News, please email Kathy Millerick at kmillerick@rihousing.com.