Include Four Key Items in Tax Credit Resident Selection Plan

November 30, 2015    

Creating a resident selection plan is a good idea for any type of site you might manage, including a tax credit site. Although the tax credit program doesn’t require written resident selection plans, creating one can help you process applications more effectively, educate your prospects...

How to Implement and Enforce a Smoke-Free Policy at Your Site

November 17, 2015    

In a proposed rule revealed on Nov. 12, the Department of Housing and Urban Development would require more than 3,100 public housing agencies overseeing 1.2 million units of public housing to go smoke-free within several years. The agencies would have to design policies prohibiting lighted...

Follow Five Dos & Don’ts When Managing Unoccupied Units

October 29, 2015    

Each time you manage a new tax credit site, you start with unoccupied units that you must rent to the right mix of households. And when households later vacate their units, some units may stay unoccupied for a while. Having these unoccupied units at your site can raise compliance issues. If you...

Use Correct Forms to Get Additional Information About Household Income

September 30, 2015    

When certifying and recertifying low-income households at your tax credit site, you may encounter situations that require you to use special forms to get more information about household income. Sometimes, you’ll need to get household members to complete and sign these forms. At other...

Follow Recordkeeping, Retention Requirements to Prove Tax Credit Compliance

August 31, 2015    

You might think that as long as you’re complying with the tax credit program’s requirements, you’re protecting the owner’s credits. But the owner’s credits aren’t safe unless you can prove your compliance to the IRS and your state housing agency. If you don...

Seven Tips for a Successful Food Waste Collection & Composting Program

July 30, 2015    

By Carolyn E. Zezima, Esq.

Managing Sites Financed by Both Tax-Exempt Bonds and Tax Credits

July 22, 2015    

The owner of a tax credit site you manage may tell you that the site also participates in the tax-exempt bond program. But you might not be entirely sure as to what this means and what compliance issues to be mindful of when management participates in the bond program.

Three Compliance Issues Surrounding Form 8609’s Multiple Building Project Election

June 26, 2015    

You might not realize that whether the tax credit site you manage is a single- or multi-building project site has a significant effect on what you and your staff must do to keep the site in compliance. Yet many tax credit rules and requirements apply differently to sites in which the owner...

How to Determine Household Size for Income Eligibility

May 29, 2015    

Correctly determining the size of each low-income household at your site is essential because the income limits you must use to check household eligibility are organized by household size. If you use the wrong limits to certify a household, you’ll make mistakes that will put the owner...

How to Meet Your Site's First-Year Occupancy Requirements

April 30, 2015    

When you start managing a tax credit site, you must meet certain occupancy requirements in the first year of the site’s compliance period. If you don’t meet these requirements, you’ll run into big problems. For example, the site owner may have to forfeit some or even all of the...

Follow Five Rules to Reduce Risk of Sexual Harassment Claims

March 31, 2015    

Claims for sexual harassment, which is considered a form of housing discrimination based on sex, can cost thousands—if not millions—in settlements or court awards, civil penalties, and attorney’s fees—not to mention lasting damage to the reputation of the site, management...

Follow Five Tips When Calculating Rents for Low-Income Units

February 26, 2015    

When charging restricted rents for low-income units at your tax credit site, it’s important to calculate the amount of each household’s rent properly. Managers too often make mistakes in their calculations and this can lead to big problems.

Charging more than the maximum rent...