QI am trying to determine the eligibility of an applicant who has been working as a hairstylist since January 2008. She is not self-employed; she is an employee of the hair salon. Her employer completed our third-party verification, but refused to...
The Housing and Economic Recovery Act of 2008 (H.R. 3221), which generally applies to buildings with placed-in-service (PIS) dates occurring after July 30, 2008, is expected to provide a boost to developers, says Glenn A. Graff, an Illinois attorney with Applegate & Thorne-Thomsen, PC, in...
QI manage an affordable housing site, and a number of our residents are self-employed as housecleaners and other service personnel who are paid in cash, or as babysitters, dancers, singers, and waiters/waitresses who live on tips. They don't file...
QAn applicant for a unit at our site says he's married but does not live with his wife. He is self-employed and provided a copy of his joint tax return to help us determine his income. How do we handle the wife's income? Does it matter that he...
QAs the owner of a tax credit site, I recently terminated the employment of a manager who was living at the site. Even though she has been terminated, she's still living on-site. The unit no longer qualifies for tax credits, because it is being...
One of the things prospects focus on when looking at a unit is how much storage space it has, says management expert Doug Chasick. Having ample storage space can mean the difference between a clutter-free unit that's comfortable to live in, and a cluttered one that's uncomfortable....
In August, the manager of a tax credit site in Newark, N.J., reported that during this past summer, residents have suffered an increase in criminal activity that has been unusual even for inner-city housing projects. For example, as reported in the New York Post on August 6, four teenage...
Two major government-sponsored enterprises (GSEs), Fannie Mae and Freddie Mac, announced recently that they are not making new tax credit investments. Together, these GSEs accounted for approximately 40 percent of tax credit investment annually for the past decade or so.
No matter how efficiently you run your tax credit site, your state housing agency may one day cite you for noncompliance with the tax credit law. If that happens, your state housing agency must notify your site's owner of the violation and also report it to the IRS using IRS Form 8823 (Low-...
In February, the D.C. Court of Appeals dealt the D.C. Housing Authority (DCHA) and its residents a setback. The court's decision in Pratt v. District of Columbia Housing Authority put a dent in DCHA's efforts to have local D.C. law support HUD's “One-Strike” policy. The...
HUD is seeking comments from owners and managers about its Enterprise Income Verification (EIV) System. Specifically, HUD would like to hear about the experiences of owners and managers in seeking and gaining access to the EIV System and in using various multifamily applications and reports...
In February, the D.C. Court of Appeals dealt the D.C. Housing Authority (DCHA) and its residents a setback. The court's decision in Pratt v. District of Columbia Housing Authority...
