Maintenance
September 30, 2014
One of the most important things you can do before winter settles in at your site is to inspect your roof. That’s because most roof damage occurs during winter. Harsh weather conditions—such as heavy rain or snow, strong winds, and extreme temperatures—can cause substantial damage...
In the News
September 30, 2014
Each year the IRS allocates a certain amount of Low-Income Housing Tax Credits to each state using a formula allocation method, which is based on a state’s population, and is established in Section 42 of the Internal Revenue Code. In addition to the credits allocated by this formula method,...
Feature
August 26, 2014
Your residents are entitled to a utility allowance if they are responsible for payment for their gas, electric, water, sewer, or trash service. A unit is out of compliance if you are not crediting the resident with a utility allowance, and the amount you charge them for rent exceeds the tenant rent...
Maintenance
August 26, 2014
With the approach of the fall heating season, it’s a good time to consider the steps that need to be taken to get your heating system online for the upcoming cold weather. Increasing oil prices have alerted many owners to the basic fact that an inefficient boiler will waste unnecessary...
Q & A
August 26, 2014
Q: We have a single disabled veteran who moved into one of our 100 percent tax credit units in 2012. This resident holds a HUD-VASH (Veterans Affairs Supportive Housing) Voucher and at the request of the VA may be returning to school and becoming a full-time student. We learned this during a...
In the News
August 26, 2014
At the end of 2013, the Social Security Administration (SSA) posted information that it intended to stop providing paper benefit/award letters from the local SSA offices beginning in February 2014. The rationale was that requiring individuals to use the online technological investments that SSA...
In the News
August 26, 2014
The IRS recently released two revenue procedures that provide guidance about temporary disaster relief for qualified developments that were financed by the LIHTC or tax-exempt bonds. The new revenue procedures modify similar guidance that the IRS issued in 2007, in Revenue Procedure 2007-54.
In the News
August 26, 2014
On Aug. 15, HUD published a notice in the Federal Register requesting comments on the proposed Fair Market Rents (FMRs) for fiscal year (FY) 2015. The primary uses of FMRs are to: (1) determine payment standard amounts for the Housing Choice Voucher program; (2) determine initial renewal rents for...
Feature
July 30, 2014
If you already manage tax credit sites, you may be asked to help manage the conversion of an existing site to tax credit housing. If so, there are two key challenges you’re likely to face. First, you’ve got to certify the income and eligibility of existing residents to make sure they...
Dealing with Households
July 30, 2014
Sites generate a lot of records, such as leasing records, maintenance records, security deposit records, incident reports, and so on. Because these records take up space in leasing or management offices, most staff members want to get rid of them as soon as possible. But these records can help you...
