24 CFR §886.130

1. (a)The contract administrator will conduct management and occupancy reviews to determine whether the owner is in compliance with the Contract. Such reviews will be conducted in accordance with a schedule set out by the Secretary and published in the Federal Register, following notice and the opportunity to comment. Where a change in ownership or management occurs, a management and occupancy review must be conducted within six months.
2. (b)HUD or the Contract Administrator may inspect project operations and units at any time.
3. (c)Equal Opportunity reviews may be conducted by HUD at any time.