How to Master Affordable Housing Management

The recently passed Consolidated Appropriations Act of 2018 provides Affordable property owners and operators an additional Low Income Housing Tax Credit (LIHTC) for federal Set-Aside – Income Averaging. It comes with a new set of complicated rules and regulations, but navigated correctly, the measure can have some real advantages for the Affordable Housing industry. In March, Greg Proctor, Vice President of RealPage Compliance Services, and Sarah Upchurch, Vice President and Industry Principal of Affordable/Senior at RealPage, discussed the ins and outs of the new Set-Aside in the first edition of the five-part RealPage Affordable Master Series. The on-demand webcasts, which are about 30 minutes each, cover hot topics and best practices for navigating the Affordable industry. They dive into income averaging, file organization and compliance, reducing regulatory risk, solving accessibility issues and surviving an audit. Episode 1: Income Averaging for LIHTC The new Set-Aside, now a third LIHTC option for Affordable property owners and operators, is designed to encourage new development in an effort to shrink the deficit of seven to 11 million units needed to meet current Affordable housing demand. It allows an owner or developer to have a broader mix of units that meet the benchmark of units leased to residents who must fall within a certain percent of area median income. Proctor notes in “Affordable Master Series: Income Averaging for LIHTC – The What, The How, The Why!” that the great thing about the Set-Aside is that it’s not only going to encourage new development, it will also make properties more profitable with additional revenue. Along with Upchurch, Proctor goes on to discuss income averaging, how it’s calculated and will be monitored, its benefits to owners and the potential risks. Other Affordable Master Series webcasts include: Episode 2: File Organization and Compliance Go Hand-in-Hand Proctor and Upchurch...