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As the leasing season heats up, you may find yourself spending a greater portion of your time screening applicants yourself. If you do this, one of the most important steps you take is to contact applicants' current and prior rental references. References' evaluations are valuable in helping you decide whether to rent a tax credit unit to an applicant. But rental references are often reluctant to fill out forms, so you might find it easier to call them to get th...
On May 20, 2013, the President issued a major disaster declaration for the State of Oklahoma because of the devastation caused by the tornadoes. Subsequently, the Federal Emergency Management Agency (FEMA) designated jurisdictions for Individual Assistance. Because of the damage to housing caused by the tornadoes, the IRS has determined that state housing agencies may provide approval to project owners in their respective states to provide temporary emergency housing fo...
The rebound in the single-family home market doesn’t mean that the multifamily market is overbuilt, said Mark Obrinsky of the National Multifamily Housing Council (NMHC). Obrinsky and other real estate experts spoke about multifamily housing trends at the recent annual conference of The National Association of Real Estate Editors in Atlanta.
The Massachusetts Legislature's Joint Committee on Housing has advanced a bill designed to expand and preserve affordable housing in the state. It's a five-year, $1.4 billion housing bond bill. The legislation would provide additional authorization for housing programs for low-income and moderate-income residents across the state.
Depending on your location and the demand for affordable apartments, you may be experiencing increased traffic from prospective residents through your leasing office doors. If you, as a site owner or manager, screen applicants yourself, one of the most important steps you take is to contact applicants' current and prior rental references.
New York Governor Andrew M. Cuomo recently announced $91 million in awards for shovel-ready projects to build affordable housing across the state. The funds were available through New York State Homes & Community Renewal (HCR)’s Unified Funding Application, a single-source process to apply for several funding streams for affordable, multifamily developments, part of the governor’s efforts to break down the inefficient and duplicative s...
It's not uncommon to hear about residents suing owners, claiming that they were injured by the presence of mold in their units. Exposure to certain molds or fungi has been linked to a number of ailments, including asthma, headaches, and skin rashes.
On April 10, President Obama released his proposed budget for the 2014 fiscal year. His proposals affecting low-income housing tax credits (LIHTCs) can be found in the "Reserve for Revenue-Neutral Business Tax Reform" Section of the proposed budget. Here are the changes proposed to the rules governing LIHTCs:
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