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Multifamily management

HUD Releases 2012 Income Limits

Yesterday, HUD released its 2012 income limits.  These limits apply to housing developments financed with Low Income Housing Tax Credits or tax exempt private equity bonds, known by HUD as Multifamily Tax Subsidy Projects (MTSPs). 

Review the limits for Vermont

 

Investing in the future of Northgate apartments

Steps to smokefree multi-unit housing

The American Lung Association announced a new online resource on the issue of smokefree multi-unit housing, Smokefree Policies in Multi-Unit Housing: Steps for Success.    These tools are targeted to public health advocates fairly new to the topic, property managers, residents and others will find the .  

Common rental application for housing assistance in Vermont

Over the past 18 months, VHFA, the Vermont Housing Managers Association (VHMA) and other statewide housing providers and advocates have been working on the concept of developing a universal rental application that could meet the basic needs of most housing programs in Vermont.  A streamlined approach has been requested by rental applicants, case managers and social service agencies working with rental applicants for years.  The need to simplify the process was identified in June at Governor Shumlin’s Housing the Homeless Summit and is even more press

Act 68 certification deadline for 2011

We've posted the 2011 application deadline for Act 68 subsidized rental housing certification: Feb. 25.

Act 68 categorizes all Vermont properties as "homestead" or "non-homestead," charging a higher tax rate for non-homestead properties.

Subsidized housing buildings are, by default, considered non-homestead properties under Act 68. Luckily, the law allows owners/managers of those properties to apply to reduce their assessment to reduce their tax burdens to something more akin to homestead status.

Managers: Upload your vacancies

A quick reminder for owners and managers of subsidized rental properties in Vermont: You can post your vacancies online, free, at the Directory of Affordable Rental Housing (DoARH).

With Hurricane Earl bearing down on the Northeast this weekend, this might be a good time to make sure the DoARH contains all your current vacancies.

Essential maintenance reminder for multifamily properties

VHFA will start requiring multifamily properties provide proof property owners/managers have filed annual compliance statements with the Vermont Department of Health regarding essential maintenance practices (EMP).

In an effort to reduce exposure to harmful lead, owners and managers must complete EMP in all rental housing built before 1978 and file annual compliance statements with the Vermont Department of Health.

HUD revises income limits, rents

The U.S. Department of Housing & Urban Development (HUD) recently updated its Section 8 Income Limits and released income limits for tax credit and tax-exempt bond projects.

One major change: HUD has eliminated its hold-harmless policy in the 2010 limits. Projects placed in service after May 14 will be affected.

VHFA Assistant Director of Multifamily Programs Kim Roy has written a memo on the changes for owners and managers of Low-Income Housing Tax Credit properties. The new limits are also attached to the memo.

Attorney General works to reduce lead in homes

bill sorrell

The Office of Vermont Attorney General Bill Sorrell (pictured) recently contacted nearly 30 landlords requesting they demonstrate compliance with Vermont's lead law.

The letters, mailed to 27 landlords in Chittenden and Washington counties, are just the latest round of requests Sorrell has sent.

HUD publishes property inspection scores online

The U.S. Department of Housing and Urban Development (HUD) has started publishing information regarding the physical condition of public housing and multifamily units.

The data can be downloaded state-by-state as PDF documents, or nationwide as a comma-delimited text file at the HUD site.

The initiative is part of President Obama's initiative of making government more open and transparent.

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