Owners and agents of affordable housing have an alternative to merely purchasing HUD-compliant software. Site owners/agents have the option of purchasing a Basic Service package whereby 50059 certifications are processed, initial notices are generated, tenant recertification is managed, and lease documents are created. Our service bureau partner will also process Housing Assistance Payments (HAP), transmit vouchers through HUD's Tenant Rental Assistance Certification System (TRACS), and process Gross Rent Changes. Owners with Section 236 contracts will receive Excess Income Reporting under this package. FasTRACS Service Bureau will reduce the amount of time and money spent maintaining compliance with the Department of Housing and Urban Development, resulting in reduced operating expenses and increased profits.
Our Service Bureau offerings include Special Claims processing, verification letter tracking, HUD-compliant waitlist management, resident screening, prequalifying, and accounts receivable.
Site managers and owners of portfolios large and small can now leverage the power of our service bureau team to ensure compliance with HUD regulations, and provide property managers with greater ability to track multiple subsidies. This new offering aims at reducing the cost of maintaining a subsidized site by eliminating the need for full-time, on-site compliance staff and TRACS submission software.
Here's a look at what our Service Bureau program offers:
- Provides startup training using HUD-link, our live, web-based training and consultation system
- Produces 50059 data sheet with property provided assets, income, and expenses for all tenants
- Produces lease and lease amendments
- Produces initial, 120, 90, and 60 re-certification notices
- Creates, reconciles, and transmits vouchers electronically to HUD or your CA
- Corrects any error messages returned from TRACS according to field office instructions and HUD guidelines
- Produces all necessary Excess Income Reports
- Produces HAP Voucher monthly
- Processes Gross Rent Changes
- Produces Verification Letters
- Provides LIVE support for compliance related issues
This service is unlike any other program in the country today. It truly is Subsidized Housing made simple. To learn more about this exclusive new program, or to receive a price quote for your agency please contact Justin Weaber at 888-224-0641.
