Huntington Apartments Was Not Properly Managed in Accordance with HUD Requirements or Its Regulatory Agreement

Official summary from the Oversight.gov

We audited Huntington Apartments’ management of its multifamily property as part of our annual work plan. The owner of Huntington Apartments manages 204 units in accordance with HUD requirements and its regulatory agreement which includes restrictions on the use of property funds and assets. We selected Huntington Apartments for an audit based on risk indicators, such as surplus cash deficiencies, missed or late mortgage payments, failure to maintain the property, and HUD’s risk rating. Our audit objective was to determine whether the owner managed Huntington Apartments in accordance with HUD requirements and its regulatory agreement The owner and prior management agents of Huntington Apartments did not manage the property in compliance with HUD requirements or its regulatory agreement during the audit period of January 1, 2023, through December 31, 2024. Specifically, the owner and management agents did not ensure that, (1) vacant units were filled with available applicants; (2) tenant annual recertifications were completed; (3) work orders were tracked and completed; (4) mortgage payments were made on or before its due date; (5) the tenant security deposit account was fully funde