During the month of July 2022, A. J. Johnson will be partnering with the MidAtlantic Affordable Housing Management Association for three live webinar training sessions intended for real estate professionals, particularly those in the affordable multifamily housing field. The following sessions will be presented:
July 12: Dealing with Affordable Housing Expenses & Deductions – Owners and managers must determine the amount of a family’s income before the family is allowed to move into assisted housing and at least annually thereafter. The amount of assistance paid on behalf of the family is calculated using the family’s annual income less allowable deductions. HUD program regulations specify the types and amounts of income and deductions to be included in the calculation of annual and adjusted income.
There are five possible deductions that may be subtracted from annual income based on allowable family expenses and family characteristics. The remainder, after these deductions are subtracted, is called adjusted income. Adjusted income is generally the amount upon which rent is based. This training focuses on the calculation of annual adjusted income and will cover in detail the adjustments relating to (1) dependent deduction; (2) childcare deduction; (3) disability-related expenses; (4) the elderly deduction; and (5) deductions for medical expenses. The training also includes problems to ensure that the attendees can apply what they learn to actual situations.
July 14: Operating Policies for Affordable Housing Properties – Written Operating Policies are a critical component of good management of affordable housing properties. This training will introduce attendees to the basic requirements of four essential policies – the Management Plan, general property policies (aka – “house rules”), tenant transfer policies, and waiting list management. At the conclusion of the training, property managers will be much more aware of the importance of these policies and the elements that should be part of each of the policies.
July 26: Intermediate LIHTC Compliance – Designed for more experienced managers, supervisory personnel, investment asset managers, and compliance specialists, this program expands on the information covered in the Basics of Tax Credit Site Management. A more in-depth discussion of income verification issues is included as well as a discussion of minimum set-aside issues (including the Average Income Minimum Set-Aside), optional fees and use of common areas. The Available Unit Rule is covered in great detail, as are the requirements for units occupied by students. Attendees will also learn the requirements relating to setting rents at a tax credit property. This course contains some practice problems but is more discussion oriented than the Basic course. A calculator is required for this course.
These sessions are part of the year-long collaboration between A. J. Johnson and MidAtlantic AHMA that is designed to provide affordable housing professionals with the knowledge needed to effectively manage the complex requirements of the various agencies overseeing these programs.
Persons interested in any (or all) of these training sessions may register by visiting either www.ajjcs.net or https://www.mid-atlanticahma.org.