Feature

Feature

How to Respond to Three Objections When Leasing Units at Tax Credit Sites

November 18, 2012    

Getting top-quality renters through your tax credit site’s office door is tough. But dealing with their worries about living at a tax credit site is even tougher. Some applicants think twice about renting a unit at a tax credit site. They have preconceptions that the tax credit program...

How to Respond to Unfavorable, False Reviews on Apartment-Rating Web Sites

November 17, 2012    

The Internet has proven to be very beneficial for apartment communities, as it gives prospects the opportunity to shop for apartments 24 hours a day in the comfort of their homes. As prospects continue to do more of their research online, user review and ratings Web sites such as yelp.com and...

Set Strong Anti-Fraud Policy to Encourage Disclosure of All Assets

November 5, 2012    

Applicants and residents who lie about their income or student status cause big problems for tax credit owners and managers. Many applicants lie about their qualifications for the tax credit program because they think this will increase the chances that they'll appear eligible to occupy a...

How to Certify Applicants or Households with Pregnant Members

September 28, 2012    

As a tax credit manager, you must be aware of households' composition and be aware of how life changes such as pregnancies among your households or applicants can invoke specific HUD rules when it comes to eligibility, income, and unit size. For example, suppose a married couple applies for...

Gather Necessary Administrative Documents for Key Compliance Information

August 30, 2012    

Unless you get the right documents from the owner, you may not be able to manage your tax credit site effectively. Part of keeping your site in compliance is making sure your staff knows all the requirements and restrictions that affect it. The most authoritative sources for much of this...

How to Avoid Tax Credit Recapture After Site Suffers Casualty Loss

August 1, 2012    

A tornado hits and wipes out three of the 10 buildings at your site. A flood leaves the ground-floor units at your site uninhabitable. A fire roars through two floors of your high-rise and severely damages 10 units. If one of these or a similar disaster occurs at your tax credit site, you’...

Boost Lease-Up with Well-Timed Press Releases

August 1, 2012    

Press releases are a great and inexpensive way to get your site’s name recognized in the community and attract qualified applicants, says communications consultant Rose Reichman. You can send press releases with newsworthy information about a new or existing site to local newspapers and...

Insider's 2012 Survey Results: Tackling the Top Compliance and Management Challenges

July 15, 2012    

In today's economy, providing affordable housing to low-income families is more important than ever. There may be plenty of applicants, but there are also considerable challenges in verifying that they're qualified for the LIHTC program and in keeping up with rising operational costs....

Avoid Discrimination Complaints with Clear Unit Transfer Rules

July 3, 2012    

Sometimes you must transfer a household to another unit to comply with fair housing law. Or a household may ask to move to another unit for personal reasons, such as a better view. But transferring households at tax credit sites can be tricky, especially at sites with more than one building. To...

How to Keep Track of Over-Income Households to Comply with NAU Rule

May 28, 2012    

Sometimes a household's income rises above tax credit program limits. When this happens, you have to comply with an IRS rule known as the “next available unit” (NAU) rule. But many managers fail to comply with this key rule. And that can have costly consequences. If the...

Take Four Steps if Household Members Claim Zero Income

January 17, 2012    

Occasionally a household member will tell you that she has no income in order to reduce the household's total income and qualify it for the unit. Or a tax credit household that's also subject to Section 8 subsidies may claim that the entire household has no income so as to reduce the...

How to Prove Abandonment, Decide When to Change Locks

January 15, 2012    

Some of your residents may be affected by layoffs and persisting unemployment. These residents may be eager to break their lease if they can no longer afford the rent. But under a written lease, residents are responsible for the entire term of the lease provided that there are no legal reasons...