Feature

Feature

Adopt Comprehensive Pet Policy to Address Owner's, Residents' Concerns

March 10, 2010    

Becoming a pet-friendly site can be a great way to increase your pool of prospective residents and keep them longer once you find them. Responsible pet owners generally are also responsible tenants, and they appreciate sites that welcome Fido and Fluffy. In fact, research by FIREPAW, the...

Establishing Green Management Practices at Existing Sites

February 2, 2010    

There is a growing consciousness among low-income housing developers, site owners, and managers of the health, environmental, and cost advantages associated with green building practices. Owners and developers are increasingly employing green strategies to ensure that newly constructed and...

Seven Common Mistakes to Avoid When Preparing for REAC Inspection

January 12, 2010    

Chipping and peeling paint on a building's exterior. Loose wood siding. Exposed wiring. Rusted steps and railings. These were just some of the problems uncovered during the Real Estate Assessment Center's (REAC) inspection of a 77-unit Section 8 project. And after receiving low scores on...

Two Key Revisions to 8823 Guide Every Site Manager Should Know

December 8, 2009    

The revised 8823 Guide, released by the IRS on Sept. 25, 2009, addresses issues brought about by the Housing and Economic Recovery Act of 2008 (HERA), amendments to the HUD Handbook 4350.3, and the revised utility allowance regulation. Last month, we looked at significant changes related to...

The Revised 8823 Guide: Key Changes and Clarifications

October 31, 2009    

On Sept. 25, 2009, the IRS released its revised 8823 Guide, which includes changes brought about by the Housing and Economic Recovery Act of 2008 (HERA), amendments to the HUD Handbook 4350.3, updated interpretations and guidance, and in-depth information on utility allowance procedures.

Set Clear Expectations When Working with Contractors

October 31, 2009    

If you're planning a building project at your site, whether it involves new construction, rehabilitation, or just light repair work, you may be apprehensive about working with a new contractor. But investing some time up front to find the right candidate and define the terms of the job may...

Plan Ahead to Avert Catastrophe from Natural Disaster

August 31, 2009    

It is any site manager's worst nightmare—that moment when the phone rings to notify you that your world has been turned upside-down. The potential threats caused by natural hazards, such as hurricanes, wildfires, floods, winter storms, landslides, or earthquakes, happen more often than...

Take 10 Steps to Prevent Loitering

August 31, 2009    

If you're having problems with groups loitering in your parking lot, common areas, or elsewhere on your property, you're not alone. Nonresident loiterers have been a long-time complaint for tax credit site managers. Loitering has the potential to incite vandalism, burglary, muggings,...

Set Clear Procedures for Application Fees and Holding Deposits

July 31, 2009    

The tough economy has many low-income housing tax credit sites operating with minimal staffing and restricted budgets. Some find that carefully managing operating costs can help to offset the lack of rent growth caused by declining median incomes in the past few years.

Lease Nonrenewal Procedure: Don't Expose Yourself to a Lawsuit

July 4, 2009    

An all-too-common scenario in tax credit site management is the household that becomes uncommunicative at recertification time. You've probably encountered such households before: Multiple notices to make an appointment for a recertification interview are shrugged off and ignored.

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Four Tips for Maintaining Effective Waiting Lists

July 4, 2009    

Most tax credit sites keep some type of prospect waiting list. If your site participates in HUD-subsidized programs, such as Section 8 or Section 236, a written resident selection plan is mandatory and must follow HUD guidelines [HUD Handbook 4350.3., Ch. 4, Sec. 1]. But even if not required by...

Make Sure Household Files Are in Shape for Review

May 31, 2009    

Keeping household files well organized and up to date is a critical factor in demonstrating compliance with tax credit requirements. Lack of proper documentation, inadequate or missing clarification on verifications, asset or income errors, and typos are among the common mistakes that auditors...