Affordable Housing: TRACS Implementation Pushed Back to Fall 2018
Earlier this week, RealPage Affordable Leadership attended a Tenant Rental Assistance Certification System (TRACS) Industry meeting at HUD in Washington, D.C. At the meeting, HUD informed RealPage that TRACS 2.0.3.A will not be implemented until the Fall of 2018.
The setback comes in lieu of several factors—firstly, HUD is running a major technology update on their systems that support TRACS, estimated to run through July at a minimum and into September/October at the latest. Additionally, form updates for TRACS 2.0.3.A are still awaiting OMB approval, with no set approval date in sight.
As of now, TRACS 2.0.3.A implementation has been pushed to begin on November 1st with a 4-month implementation window, meaning all sites must be transitioned to TRACS 2.0.3.A by March 1st of 2019. If the HUD technology update project finishes earlier than expected and forms are approved, TRACS may be implemented before November.
HOTMA (Housing Opportunity Through Modernization Act) enforcement may also have a significant impact on TRACS implementation. The HUD Administration plans to see HOTMA in place on January 1, 2019, as HOTMA can only be implemented on the first day of the calendar year. HUD will be providing further guidance on HOTMA enforcement and implementation as the schedule for TRACS 2.0.3.A solidifies.
RealPage has been heavily involved in the discussions to date, ensuring that requirements and timetables align with the industry and customers’ needs.
Note: This is not an official announcement. Stay tuned for more updates to follow as more information becomes available.