Tax Credit Housing Management Insider

Feature

Take 4 Steps When Dealing with a Tenant Hoarder

October 29, 2021    
As the temperature starts dropping across the country, your site may be undertaking increased pest prevention treatments or inspections as pests, particularly rodents, start moving indoors. Unfortunately, some residents are not always diligent about reporting pest issues for reasons such as...
Dealing with Households

Get Staff to Report Signs of Resident-Related Trouble

October 29, 2021    
Your site employees are in a perfect position to keep you up-to-date on what’s going on at your site. And the information they give you about residents can be critical in helping you run your site. They can alert you to lease violations and unauthorized residents, and they can help you build...
Income Calculations

SSA Announces 5.9% Benefit Increase for 2022

October 29, 2021    
On Oct. 13, the Social Security Administration (SSA) announced that the Social Security and Supplemental Security Income (SSI) benefits for approximately 70 million Americans will increase 5.9 percent in 2022. This is the largest increase in 40 years.
Q & A

Renting Units on Month-to-Month Basis

October 29, 2021    
Q A prospective household wants to rent a two-bedroom unit at our tax credit site on a month-to-month basis. We know that the tax credit program doesn’t allow short-term rentals. But the household doesn’t plan to vacate anytime soon and just wants flexibility. The household is income-...
Q & A

Complying for 15 Years

October 29, 2021    
Q We’ve just started to manage our first tax credit site. The site owner told us that we need to keep the site in compliance with the tax credit program for only 10 years because that’s how many years the owner claims its tax credits. But we thought that the compliance period lasts 15...
Feature

3 Household Changes to Watch for at Annual Recertifications

September 30, 2021    
If you manage a mixed-income site, you’re probably gearing up to kickstart annual recertifications as a result of the expiration of IRS Notice 2021-12. This notice temporarily postponed the income recertification requirement for owners until Sept. 30.
Q & A

Compliance on Building or Site Basis

September 30, 2021    
Q My company manages a tax credit site with three buildings. Must we always apply the tax credit program’s requirements separately to each building, rather than to the site as a whole? A No. In many cases, you apply the tax credit program’s requirements separately to each building. But...
Q & A

Use of HUD Handbook for Calculating Household Income

September 30, 2021    
Q My company has used Section 4350.3 of the HUD Handbook to calculate household income at the Section 8 sites we manage. We’re about to start managing our first tax credit sites. Should we also use the Handbook to calculate household income at these sites?
Dealing with Households

Treasury Adds 7 Policies to Expedite ERA Distribution

September 30, 2021    
The Treasury Department recently released updated Emergency Rental Assistance (ERA) spending data through Aug. 31. So far, state and local programs have made over 1.4 million Emergency Rental Assistance payments to households and distributed $7.7 billion since January.
In the News

Court Affirms Nonprofit's Ownership of LIHTC Site

September 30, 2021    
As property values have increased, there’s been more litigation about what a below-market right of first refusal means.   On Sept. 15, the Third District Court of Appeals for the State of Florida affirmed a Florida nonprofit’s ownership of an LIHTC site. Specifically, the court...