Tax Credit Housing Management Insider

Feature

How to Get Cooperation on Household Transfers, Avoid Noncompliance

September 30, 2022    
It’s not unusual for a household to request a transfer to a new unit at a tax credit site. The household may want to get away from noisy neighbors, want a bigger unit, or have a better view. Or there may be a change in household composition or a reasonable accommodation request for a unit...
Income Calculations

5 Dos & Don'ts for Treating Household Lump-Sum Payments Correctly

September 30, 2022    
When a household gets a one-time payment such as an inheritance or a settlement award you must follow special HUD rules for such payments when certifying and recertifying household income. In general, you must treat these payments, known as “lump-sum payments” or “lump-sum...
Dealing with Households

Use 3 Strategies to Communicate Better with Non-English Speakers

September 30, 2022    
An increasing number of prospects and household members don’t speak English as their primary language. These individuals who have a limited ability to read, speak, write, or understand English are limited English proficient, or “LEP.” These individuals may be immigrants or native-...
In the News

NCSHA Reports Scramble to Fill Funding Gaps for LIHTC Developments

September 30, 2022    
A recent report released by the National Council of State Housing Agencies (NCSHA) highlights the actions state housing finance agencies are going through in this period of increased labor, materials, and financing costs to ensure pending LIHTC projects can proceed as planned. The report is titled...
Feature

What You Need to Know When Updating Utility Allowances

August 30, 2022    
If residents at your tax credit site pay for their own utilities, the amount of each unit’s utility allowance affects the maximum monthly rent you can collect from the household. The utility allowance is generally based on an estimate of reasonable household consumption and cost for the unit...
Dealing with Households

How to Have Households Inform You of Long Absences

August 30, 2022    
Sometimes a household will disappear for weeks at a time. No one answers the phone, their mail piles up, and their assigned parking space remains empty. When a unit is left unattended, health and safety hazards such as rotting food or frozen pipes can result.
In the News

How Inflation Reduction Act Targets Energy Efficiency in Affordable Housing

August 30, 2022    
On Aug. 16, President Biden signed into law the new Inflation Reduction Act (IRA), which includes significant investments to address climate change in affordable housing. The law provides billions of dollars in funding through direct spending and tax credits that can be used to preserve affordable...
In the News

White House Hosts Summit on Eviction Prevention

August 30, 2022    
In early August, the White House hosted a virtual summit on “Building Lasting Eviction Prevention Reform.” As funds for Emergency Rental Assistance (ERA) are beginning to wind down, the meeting focused on the need for an all-out effort to build lasting eviction prevention reform.
Feature

What to Include in a Good Management Report for LIHTC Sites

July 28, 2022    
One of the most important jobs for the manager of a tax credit site is keeping the owner informed of how well you’re managing the site. The owner wants to know on a monthly or quarterly basis how well the site is doing financially and to be assured that there are no compliance problems...
Maintenance

4 Tips for Avoiding the High Cost of Emergency Repairs

July 28, 2022    
You can keep emergency repair costs to a minimum by reducing the number of these repairs your site needs, and by planning ahead to keep their costs and the damage they cause under control. Here are four tips that will help you avoid having to make emergency repairs and control the costs of those...