Fixed Assets FAQs

Q.  What items should I look at to ensure Mosaic is entering a favorable lease agreement for residential property?
  • Check what repair and maintenance items the lease lists as Mosaic responsibility. Landlords should be paying for capital repairs on residential property. The tenant is usually responsible for routine maintenance. Furnace repair, plumbing, structural repair, electrical, painting, and flooring should be the responsibility of the landlord.
  • Mosaic prefers that the term of the lease be no longer than three years.
  • Whenever possible have the individual tenants sign the lease with the landlord, not Mosaic.
  • Mosaic has language which states that if we lose our state and federal funding, we can terminate the lease within 30 days. All leases should contain this language.
  • Check proposed yearly increases in rents, and measure them against the expectation of funding increases.
  • Check to see how late fees will be assessed.
  • Check out hold over and if the agency will be assessed additional rents upon the expiration of the lease term.
Q.  What is the commitment Mosaic makes to HUD when affordable housing is Developed?
  • The housing must  remain affordable for 40 years.
  • Individuals living there must remain eligible by being low-income and developmentally disabled.
  • The housing must be kept in good repair and safe for the tenants.
Q.  What are the advantages of developing affordable housing for the individuals we serve?
  • Individuals will pay lower rent; for example, on HUD projects tenants will pay only 30% of their income
  • The dollars to develop housing come from outside sources; therefore, Mosaic has only a minimal outlay of cash. This means more money for staff salaries and habilitative services.
  • Through the rents (partially subsidized by HUD), the housing is maintained, and no program dollars must be used for repair and maintenance, insurance, etc.
Q.  What are the benefits of using a maintenance card?
  • Centralized billing
  • Invoice and repair review prior to incurring the expense
  • Driver convenience
  • Tracking of all repairs
Q.  How do I dispose of a vehicle?
  • Contact Fixed Assets Development and we will assist you in the disposal of a vehicle or help you dispose of it at your location.