Tax Credit Housing Management Insider

News

Texas Landlord Charged with Discrimination

In The News

Hud: Take Zero-Tolerance Approach to Lifetime Sex Offenders in Subsidized Housing

HUD is strongly encouraging owners and managers of HUD-subsidized housing sites to take a zero-tolerance approach to ensuring that lifetime sex offenders are prevented from receiving federal housing assistance. The background check must be carried out in the state where the site is located, as well as any states where the applicant and members of his or her household are known to have resided.

Feature

The Revised 8823 Guide: Key Changes and Clarifications

The IRS has released its revised 8823 Guide, which includes changes brought about by the Housing and Economic Recovery Act of 2008 (HEAR), amendments to the HUD Handbook 4350.3, updated interpretations and guidance, and in-depth information on utility allowance procedures. The "HEAR Special 50 percent" and "HEAR Special 60 percent" income limits are applicable if the owner relied on the income limits provided by HUD to determine the income limits applicable to the low-income project and deter...

Health & Safety

Share Space Heater Safety Tips with Residents

It is a good idea to share with residents a few safety guidelines for using space heaters. Make sure that the heater is placed on a level, hard, and nonflammable surface. Keep the heater at least three feet from bedding, drapes, furniture, and other flammable materials. To reduce the risk of fire, never leave a space heater on when you go to sleep or place a space heater close to any sleeping person.

Best Practices

Set Clear Expectations When Working with Contractors

Roger Harper, principal of RHarper Consulting Group, recommends getting at least three bids and having each contractor explain to you how he would approach the work. Get three customer references, at a minimum, from each contractor, as well as a bank and an insurance reference. Site managers should take the time in advance to develop their own form contract, says veteran construction and development litigator Scott W. Campbell. Campbell strongly recommends that site managers opt for a "fixed-...

Q & A

How to Treat Residents' Investment Accounts

If an investment account is being treated as a retirement-type account, such as an IRA or an annuity, and regular distributions are being taken from the account, those distributions are to be treated as income, and the account itself is to be disregarded as an asset. The HUD Handbook addresses the issue of regular distributions, counting the income, and disregarding the asset.