In the News
May 31, 2013
On May 15, the Center for Housing Policy released a report on state housing policies that help remediate child poverty, promote family and residential stability for children, and help families access communities of opportunity that offer good schools and other amenities that make them especially...
In the News
May 31, 2013
A bipartisan group of House members from New York, New Jersey, and Connecticut recently introduced legislation to provide temporary tax relief for victims of Hurricane Sandy. The Hurricane Sandy Tax Relief Act of 2013 (H.R. 2137), modeled after a similar bill passed into law in the wake of...
Feature
April 29, 2013
Requiring application deposits for tax credit units is a good way to secure applicants and get signed leases later on, especially when new or substantially rehabilitated buildings aren’t ready. But when you accept a deposit, don’t inadvertently give the applicant the impression that you...
Dealing with Households
April 29, 2013
As summer approaches and temperatures begin to rise, residents and their guests may be tempted to go up on the roof and sunbathe, barbecue, or just cool off from their hot units. Unfortunately, allowing people on the roofs of your site’s buildings can cause you many problems. For example, if...
Certification
April 29, 2013
Certifying a household that includes dependents—most often children under age 18 or full-time students—isn’t complicated. But if you don’t know the specific rules on counting a dependent’s annual income, it’s easy to make mistakes. And one mistake can lead to an...
In the News
April 28, 2013
Recently, a bipartisan group of 32 U.S. representatives from states affected by Hurricane Sandy, including New York, New Jersey, Connecticut, and Rhode Island, sent House Speaker John Boehner a letter urging tax relief for victims of Super Storm Sandy.
Feature
March 28, 2013
While the IRS is generally responsible for the low-income housing tax credit program, in 2000 it entered into a Memorandum of Understanding with the Department of Housing and Urban Development (HUD) and the Department of Justice (DOJ) to enforce fair housing laws. HUD is generally charged with...
Maintenance
March 28, 2013
With the beginning of spring, now is the optimal time to think about lease-ups and how you may turn over recently vacated units faster. That’s because spring and summer are the times when most sites experience their busiest leasing months. When a resident moves out, you shouldn’t let...
Q & A
March 28, 2013
Q: One of our tax credit units became vacant early last year. We advertised regularly in the newspaper and on the Internet and posted flyers at local shopping centers. But all the prospective households were ineligible. We’ve finally succeeded in renting the unit to a qualified low-...
Dos & Don'ts
March 28, 2013
The Housing and Economic Recovery Act of 2008 (HERA) eliminated the annual income recertification requirement for 100 percent buildings. Each state agency, however, may opt to tighten the rule and impose its own recertification requirements. In addition, some owners may still complete annual...
