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Final NSPIRE Rule Released by HUD on May 11, 2023
HUD’s Real Estate Assessment Center (REAC) assists in improving housing quality by performing accurate, credible, and reliable assessments of HUD’s real estate portfolio. REAC’s primary mission is to provide our customers with independent, actionable assessments that advance risk-informed decisions about the condition of the nation’s affordable housing portfolio.
REAC has not been updated for over 15 years. Now with HUD’s release of the INSPIRE model it is imperative that one becomes familiar with how these changes will affect you and your property. The new NSPIRE model prioritizes health, safety, and functional defects over appearance. It implements inspections that better reflect the true physical conditions of the property. The NSPIRE model supports the adoption of sound, year-round maintenance practices.
HUD has developed an INSPIRE model to update the physical inspection process. These new regulations go into effect in October of 2023. This model of the inspection was introduced by the HUD in response to concerns about the effectiveness of the REAC Inspections. The goal of the NSPIRE is to modernize and improve the inspection process of HUD-assisted properties with a stronger emphasis on health, safety, and functional aspects. It is designed to be more resident-focused. It promotes transparency and collaboration among property owners, managers, and residents
REAC has not been updated for over 15 years. Now with HUD’s release of the INSPIRE model it is imperative that one becomes familiar with how these changes will affect you and your property. This is the new “hot topic”. Since there are major changes to the inspection system (first change in over 15 years) it is imperative that managers and owners understand the nuances of the changes. It will affect them for years to come. It will be implanted in October of 2023.
Paul has been involved in the real estate industry for the past 38 years. He has been involved in sales, construction, project management, appraisal, property management, and property management consulting/training.
Through his consulting company, Property Management Solutions, he provides training and consulting services nationwide to owners, management companies, multi-housing associations, as well as state and federal agencies.
He specializes in fair housing issues and has developed fair housing and outreach programs for governmental agencies as well as conducting seminars which are presented to property management companies, apartment associations, and the general public nationwide. Most recently, he has been a consultant to the State of South DakotaSept
For over twenty years he was involved in the appraisal of residential, multi-family, farm, and commercial properties throughout the Midwest. Most recently, he was a consultant for affordable, multi-housing properties in 22 different states. This involved properties in HUD, Rural Development, HOME, and Tax Credit programs.
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