Tax Credit Housing Management Insider

Feature

HUD Moves to Implement New VAWA Requirements

January 31, 2023    
HUD recently requested public comment on plans to implement the key changes the VAWA Reauthorization Act of 2022 (VAWA 2022) made to the Violence Against Women Act of 1994. Since the 2013 amendments, VAWA has applied to the LIHTC program. However, neither the Treasury Department nor the IRS has...
Income Calculations

How the SECURE 2.0 Act Impacts Retirement Account Withdrawals

January 31, 2023    
Personal retirement accounts can be tricky to navigate when completing income certifications. They can be considered assets or income depending on if the resident has access to the retirement account funds and if distributions are regular and periodic or sporadic. Generally, when the regular...
Compliance

HUD Publishes Fact Sheet on Assistance Animals and Fair Housing

January 31, 2023    
HUD’s Office of Fair Housing and Equal Opportunity recently published a fact sheet to educate housing providers and persons with disabilities who seek reasonable accommodations related to assistance animals. The fact sheet can be found at https://files.hudexchange.info/resources/documents/...
Q & A

Clarification on Applying the Vacant Unit Rule at Mixed-Income Sites

January 31, 2023    
Q I have a mixed-income site. The last issue of the Insider seemed to indicate that credit may be claimed on vacant units if reasonable attempts are being made to rent the unit and no units are rented to non-qualified households while the unit is vacant (see How to Make Sure Next Available Units...
In the News

White House Announces Actions to Protect Renters and Promote Affordability

January 31, 2023    
The White House recently announced new actions to increase fairness in the rental market and further principles of fair housing. Notable actions announced include: 
Feature

How to Make Sure Next Available Units Are Technically “Available”

January 2, 2023    
In the LIHTC program, if the income of tenants of a low-income unit in the building increases above the limit allowed, the next available unit (NAU) of comparable or smaller size in the building will be rented to tenants having a qualifying income. This is the NAU rule and it applies whenever a...
Dealing with Households

How to Cut Risks When Accepting Packages for Residents

January 2, 2023    
Most residents aren’t home during the day to accept packages sent to them. And with the rise of online shopping, packages that are left unattended at your site could become attractive targets for thieves and may entice thieves to regularly visit your site.
Compliance

5 Tips for Dealing Correctly with Different Unit Types

January 2, 2023    
When complying with the tax credit law, you must follow different rules depending on which of the five types of tax credit units you’re dealing with. But tax credit managers often get confused about which rules apply to which type of unit, or even about how each unit type differs. If this...
In the News

Bill Would Expand LIHTC Housing Options for Formerly Homeless Students

January 2, 2023    
In November, U.S. Senators Angus King (I-Maine), Sherrod Brown (D-Ohio), and Rob Portman (R-Ohio) and Rep. Brad Wenstrup (R-Ohio) and Rep. Danny Davis (D-Ill.) from the House introduced “The Housing for Homeless Students Act of 2022” to help homeless students, veterans, and foster youth...
Feature

Keep Household Information Confidential to Avoid Liability, Protect Residents

November 30, 2022    
From time to time, your site may get phone calls, letters, or other inquiries for information about residents. The request can seem innocent, or it may seem official. And some requests will be. But granting even innocent requests can cause trouble. Sites are responsible for ensuring the privacy and...