If students want to live in low-income units at your tax credit site, you must make sure you comply with the student rule. This rule says that, generally speaking, households composed entirely of full-time students aren’t eligible to occupy low-income units at any time during the...
Preventive maintenance is a thankless task. Occurring behind the scenes, preventive maintenance usually doesn’t get noticed unless something disastrous happens. Owners and managers often give landscaping and cleaning services priority because the benefits associated with those activities...
Suppose an applicant or a household member at your tax credit site tells you she has been in an automobile accident and will be on disability for a while. She has no idea when it will be possible for her to work again. In the case of the household member, if your site isn’t a 100 percent...
Most residents are good about reporting maintenance problems. Some owners and managers may say that they’re too good. But there are residents who don’t report maintenance problems. Perhaps these residents are too busy or don’t want members of your maintenance staff in their...
When certifying low-income households at your tax credit site, you may encounter a situation in which you need to calculate income for military personnel. You may find the process difficult because you may have trouble obtaining the right documentation to prove to your state housing agency and...
Sometimes tax credit site owners aren’t entitled to claim all the credits they were allocated for a building. This happens when owners don’t lease up as many units to qualified low-income households as they must in the first year of the building’s compliance period. As a result...
You’ve placed ads in the newspaper and on the Internet to market your tax credit site. Your efforts prove successful, and before you know it you’re busy handling phone calls and visits from prospects. When this happens, you should be prepared to make the most of your first meeting...
Before you rent any unit at your tax credit site to a new household, it’s important to confirm that the rental will comply with the tax credit law. If your rental of a unit won’t comply, the owner’s credits for that unit may be at risk. And if the unit is one you must count to...
Whether you’re a long-time subscriber or a new one, you can test your knowledge—and that of your staff—on various compliance topics we’ve covered in the past year by taking the quiz in this Special Issue. The questions touch on topics ranging from income calculations and...
As a tax credit manager, your main goal is to make sure that the owner of your site can claim all the credits allocated to the site. To do this, you must keep your site in compliance with the tax credit law throughout the compliance period. But because the tax credit program’s requirements...
Tax credit site managers often find themselves wasting time and money processing applications for ineligible households. You need an easy way to get basic eligibility information right away so that you can focus your administrative efforts on eligible households.
