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Not only is it a smart management practice to keep your household files up-to-date and complete, but it's also something that HUD expects you to do. And not just in time for an occupancy review or audit, but all of the time.
Sloppy files will certainly raise a red flag during a formal review, signaling that you may not know what is needed to be in compliance. On top of that, messy or incomplete files can create headaches for you and your staff in the day-to-day operations of your site.