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IRS Provides Clarification on COVID-19 Issues

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A. J. Johnson
The IRS recently issued guidance relating to COVID-19 relief for LIHTC projects (July 1). The National Council of State Housing Agencies (NCSHA) requested clarification from the IRS on two of the provisions in the IRS Notice (Notice 2020-53): (1) suspension…

Normal Wear & Tear – What is it?

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A. J. Johnson
A question I often get from clients with regard to the requirement to return security deposits is “What is the difference between normal wear and tear and tenant damage?” It’s an important question, because the landlord/tenant laws in virtually every…

HUD Updates Guidance on CARES Act Eviction Moratorium

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A. J. Johnson
On July 1, 2020, HUD issued Notice H-20-07, Coronavirus Aid, Relief, and Economic Security (CARES) Act Eviction Moratorium. This Notice provides background and up-to-date guidance on HUD’s policies and procedures regarding the eviction relief provided to tenants of certain multifamily…

IRS Releases Major LIHTC Program Guidance – July 1, 2020

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A. J. Johnson
On July 1, 2020, the IRS released an advanced copy of proposed regulations concerning low-income housing tax credit (LIHTC) housing finance agency (HFA) monitoring requirements and Notice 2020-53, which provides COVID-19 related relief to issuers, owners, operators, and tenants of…

A COVID-19 Best Practice Reminder for Multifamily Housing

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A. J. Johnson
COVID-19 IS A SERIOUS RESPIRATORY ILLNESS THAT CAN SPREAD FROM PERSON TO PERSON. It is unfortunate that months into this crisis, people still have to be reminded about how serious an illness COVID-19 is. The current resurgent outbreaks in multiple…

How to Notify Residents of Confirmed COVID-19 Case

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A. J. Johnson
I have received a lot of questions lately regarding the rights of landlords and residents when a resident at an apartment community tests positive for the coronavirus. While a landlord is required to notify residents and the public regarding a…

CARES Act Eviction Moratorium applies to the HOME Program

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A. J. Johnson
The Department of Housing & Urban Development (HUD) recently sent a reminder to HOME Participating Jurisdictions (PJs) of their responsibility to notify property owners and tenants about the temporary eviction moratorium established by Section 4024 of the CARES Act. The…

Warn Residents of COVID-19 Scams

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A. J. Johnson
Scammers, fraudsters, and other criminals are taking advantage of rapidly changing data and facts associated with COVID-19, both in the workplace and in our homes. Government agencies, corporations, and news outlets continue to warn individuals to be mindful of increased…

HUD Issues Notice on Electronic Signatures

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A. J. Johnson
On May 26, 2020, HUD issued Notice H20-4, Electronic Signature, Transmission and Storage – Guidance for Multifamily Assisted Housing Industry Partners. This Notice provides guidance to HUD multifamily assisted housing partners on electronic signatures, electronic transmission, and electronic storage of…

Procedures for Requesting a Private Letter Ruling

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A. J. Johnson
A Private Letter Ruling (PLR) is a written decision by the Internal Revenue Service (IRS) that is sent in response to a taxpayer’s request for guidance on unusual circumstances or complex questions about their specific tax situation. For certain transactions…

HUD Issues Guidance on COVID-19 and HOME Projects

person
A. J. Johnson
On May 1, 2020, the Department of Housing & Urban Development (HUD) issued updated guidance relative to application of the CARES Act to projects with HOME funding. Section 4024 of the CARES Act imposes a temporary moratorium on evictions. The…

HUD Guidance Regarding COVID-19 Property Management Issues

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A. J. Johnson
On March 24, 2020, HUD updated its guidance on dealing with site management issues at HUD-regulated properties during the COVID-19 crisis. Following are some of the highlights of that guidance. 1. Owners may consider extenuating circumstances (including COVID-19 considerations in…

HUD Publishes 2020 Income Limits

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A. J. Johnson
On March 31, 2020, HUD published the 2020 income limits for HUD programs as well as for the Low-Income Housing Tax Credit and Tax-Exempt Bond programs. The limits are effective on April 1, 2020.  The limits for the LIHTC and…

Dealing with Coronavirus (COVID-19) at Multifamily Properties

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A. J. Johnson
At this time, all but one state (West Virginia) has reported cases of coronavirus, more accurately known as “corona virus disease 2019,” or COVID-19. Areas with dense populations are particularly susceptible to an outbreak due to the proximity of individuals…

Understanding the Role of a Notary

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A. J. Johnson
In the affordable housing industry, verification of income and other eligibility elements is a common requirement. In most cases, third party verification is required, meaning that the provider of the income provides a verification of the income. While such verifications…

NSPIRE – HUD Replacement for REAC Protocol is Moving Forward

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A. J. Johnson
The Department of Housing & Urban Development (HUD) is well underway in the overhaul of its Real Estate Assessment Center (REAC) physical inspection protocol. The REAC inspection process will eventually be replaced with a new physical inspection procedure known as…

Special Needs Trust- Determination of Annual Income

person
A. J. Johnson
Managers of affordable housing properties (e.g., Section 8 or LIHTC) must consider whether a household has assets that may contribute to the income of the household. Common assets include cash-on-hand, bank accounts, and retirement accounts. A less common type of…

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Guidance

The Professional Property Manager's Guide to the Low Income Housing Tax Credit

An easy to understand and in-depth guide written by a nationally recognized leader in affordable housing compliance, A. J. Johnson.


The Professional Property Manager's Guide to the Violence Against Women Act

Designed to provide professionals in the affordable housing industry with an easy to understand reference manual for issues related to VAWA.

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