Property Reporting System Upgrade in Process for June 30 Reporting Deadline
May 1, 2014
In March, we provided advance notice about enhancements for the Property Reporting System (PRS) and data field changes to the Loan Management Form (LMF) template. Today, you can download the new Individual and Bulk LMF templates on the Asset Management Resource Center. We encourage you to review the new templates prior to May 15, 2014, when the current LMF templates will be deactivated in PRS.
Planning for the June 30 Assessment Due Date
LMF submission will be suspended from May 15 through May 26 to update the template and data validation in PRS. You can resume your LMF submission using the updated template beginning May 26.
Please use the LMF Due Queue to plan timely submission for all LMFs with a June 30, 2014 deadline. As a reminder, you can submit assessments early if you prefer to submit all June 30 LMF assessments prior to the template change.
LMF Template Data Field Changes
The addition of a “Data As of Date” field in several places is necessary to capture the date of the information being reported.
- The “Data As of Date” field will be added after the “Submission Period” in both the Individual and Bulk LMF templates
- The “Data as of Date” field will be required to change the status of the template to “Complete”
- The “Data as of Date” field can’t be greater than ” the submission date of the LMF template
- The “Data as of Date” field can’t be older than six months from the submission date of the LMF template
PRS URL Change Notification
On May 22, the URL for PRS will change. We want to alert you in advance of the automatic redirect when you log in to PRS. Please plan to update the new URL in your bookmarks and links.
If you have any questions about templates or other PRS issues, please submit comments to the Multifamily Data Management mailbox with PRS Question in the subject line.