In the News
January 2, 2023
In November, U.S. Senators Angus King (I-Maine), Sherrod Brown (D-Ohio), and Rob Portman (R-Ohio) and Rep. Brad Wenstrup (R-Ohio) and Rep. Danny Davis (D-Ill.) from the House introduced “The Housing for Homeless Students Act of 2022” to help homeless students, veterans, and foster youth...
Feature
November 30, 2022
From time to time, your site may get phone calls, letters, or other inquiries for information about residents. The request can seem innocent, or it may seem official. And some requests will be. But granting even innocent requests can cause trouble. Sites are responsible for ensuring the privacy and...
Maintenance
November 30, 2022
Mold at your site can cause you big problems. The problems can range from remediation costs to loss of rent, and, perhaps most critically, long-term health effects. Mold-related health effects cause households to sue owners and managers claiming that they were injured by the presence of mold in...
Dealing with Households
November 30, 2022
Some of your households may be tempted to rent out their apartments ahead of the holidays to earn some extra income. Booking platforms such as Airbnb, VRBO, and Booking.com have made listing apartments to allow residents to become short-term landlords increasingly easier. However, letting low-...
Feature
October 31, 2022
The IRS recently published a final rule to implement Congress’s 2018 authorization of a third set-aside option for LIHTC sites. Under the LIHTC program, all tax credit owners must formally notify the IRS of their minimum set-aside election for their building or site when they file IRS Form...
Compliance
October 31, 2022
In an announcement made in early October, the Biden administration announced key progress on implementing its Housing Supply Action Plan. The plan aims to create and preserve hundreds of thousands of affordable housing units in the next three years and help close the country’s critical...
Income Calculations
October 31, 2022
The Social Security Administration (SSA) recently announced that the Social Security and Supplemental Security Income (SSI) benefits for approximately 70 million Americans will increase 8.7 percent in 2023. The 8.7 percent cost-of-living adjustment (COLA) will begin with benefits payable to more...
In the News
October 31, 2022
The IRS recently published the amounts of unused low-income housing tax credit carryovers for calendar year 2022. The carryover allocation is made up of LIHTCs that are not allocated by states but are added to a national pool and redistributed to qualified states that apply for the additional...
Feature
September 30, 2022
It’s not unusual for a household to request a transfer to a new unit at a tax credit site. The household may want to get away from noisy neighbors, want a bigger unit, or have a better view. Or there may be a change in household composition or a reasonable accommodation request for a unit...
Income Calculations
September 30, 2022
When a household gets a one-time payment such as an inheritance or a settlement award you must follow special HUD rules for such payments when certifying and recertifying household income. In general, you must treat these payments, known as “lump-sum payments” or “lump-sum...
