Feature

How the Gross Rent Floor Election Protects Rent from Falling Income Limits

December 4, 2019    
To calculate the rent for your low-income units, you use HUD income limits. These are the same limits you use to determine whether households are qualified. The limits you use depend on the geographic location of your building and the percentage of area median gross income (AMGI) the owner and your...
Dealing with Households

Use Common Area Rules to Protect Site and Reduce Risk of Liability

December 4, 2019    
Your common areas play a major role in your site’s success. They’re the areas that your residents share and prospective renters see first. But your residents may cause problems in your common areas, inadvertently or otherwise. They may leave their garbage out, store personal property...
Dealing with Households

How to Discourage Electricity Theft, Utilities Tampering by Residents

December 4, 2019    
One way residents may steal electricity is by stealing from the building supply. Residents may tamper with wiring and hook up directly to your building’s metered electricity supply. A resident who does this taps into power that you’re paying for. Another way to steal electricity is...
In the News

IRS Releases 2020 LIHTC, Private Activity Bond Volume Caps

December 4, 2019    
The IRS recently published Revenue Procedure 2019-44, which provides the per capita and small state minimum levels for the LIHTC and Private Activity Bonds (PABs). These volume cap figures are adjusted annually for inflation. And, for the LIHTC, the volume cap includes the temporary 12.5 percent...
In the News

Bill Introduced to Address Rising LIHTC Rents

December 4, 2019    
Representative Yvette Clarke (D-NY) recently introduced the “Affordable Housing and Area Median Income Fairness Act of 2019” (H.R.4984). The bill attempts to change how HUD calculates the area median income (AMI). For Clarke’s constituency, the AMI calculation incorporates not...
In the News

Opportunity Zone Oversight Bills Introduced in Congress

December 4, 2019    
Recently, congressional Democrats have been increasing oversight efforts over the Opportunity Zone (OZ) program. This program is a community investment incentive established by Congress in the Tax Cuts and Jobs Act of 2017 to encourage long-term investments in low-income urban and rural communities...
Feature

Beyond Lead-Free: How to Use Safe Painting Practices at Your Site

November 13, 2019    
By Carolyn Zezima, Esq.
Feature

How to Verify Alimony or Child Support Amount—and Reasonable Efforts to Collect

October 30, 2019    
When certifying or recertifying households, you may encounter household members who get alimony or child support from ex-spouses or their children’s parents. Or it may be the case that a household member pays alimony or child support to someone else. Or a household member receives none or...
Q & A

Citizenship Requirements and the LIHTC Program

October 30, 2019    
Q My company has just started managing our first tax credit site. Some of our applicants aren’t U.S. citizens. We’ve previously managed Section 8 sites and have had to reject applicants because they were noncitizens without proper documentation. Is there any citizenship requirement for...
Q & A

Clarification on Counting Foster Children and Foster Adults as Household Members

October 30, 2019    
Q The October issue of the Insider stated that foster children are not counted when determining household eligibility. (See “How to Calculate Correct Income for Adults and Dependents.”) Is this correct in light of the most recent change to HUD Handbook 4350.3, and how do we account for...