Posts by A. J. Johnson

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IRS Extends COVID-19 Relief

In response to the COVID-19 pandemic, the IRS issued Notice 2020-53 in July 2020.  This Notice provided temporary relief from certain requirements under §42 of the Internal Revenue Code and §§142(d) and 147(d) of the Code for properties with tax-exempt…

Fixed Four Percent Credit – When Does it Apply?

The COVID-19 relief legislation that was recently signed into law included a provision fixing the four percent LIHTC at an actual four percent rate. This floor applies both to properties with tax-exempt bonds and acquisition credits.  However, there are transition…

Virginia Landlord Settles Sexual Harassment Case

On September 29, 2020, the U.S. Department of Justice (DOJ) announced that Gary T. Price, a manager of rental properties in and around Harrisonburg, VA, together with owners of the properties, Alberta Lowery and GTP Investment Properties, LLC, will pay…

New York Passes Comprehensive Anti-Eviction Law

The New York State Legislature convened an unusual special session just after Christmas to pass one of the nation’s most comprehensive anti-eviction laws, which will ban landlords from evicting most tenants for at least another 60 days. Some studies show…

Trump Finally Signs Funding and Relief Bills

On December 27, 2020, President Trump finally signed the FY 2021 Omnibus Spending and COVID-19 Relief Bills. Passage of these two pieces of legislation will impact the affordable housing industry in some significant ways, primarily by setting the 4% LIHTC…

HIghlights of COVID-19 Relief Bill

President Trump is expected to sign the massive, year-end catchall bill Congress passed that combines $900 billion in COVID-19 aid with a $1.4 trillion omnibus spending bill and reams of other unfinished legislation on taxes, energy, education, and health care.…

Minimum Wage to Increase in Many Areas in 2021

In 2021, 19 states will have new minimum wage rates. Affordable housing managers responsible for determining the income of applicants and residents need to be aware of state and local minimum wage laws in order to ensure the most accurate…

New Products Make Healthy Housing a Reality

Healthy living is on everyone’s mind now. The COVID-19 pandemic has raised awareness of the environments we live in and the importance of those environments in our daily lives. Also, the increase in reasonable accommodation requests relating to “multiple chemical…

Hoarding – A Challenge for Housing Managers

In 2013, the American Psychiatric Association (APA) declared hoarding to be a clinical disability, automatically putting the issue of hoarding front and center with housing operators. The Fair Housing Act (FHA) bans discrimination against individuals with disabilities. The FHA defines…

IRS Notice of Proposed Rulemaking on Average Income Test

On October 30, the IRS published a Notice of Proposed Rulemaking in the Federal Register. This Notice concerns the LIHTC Average Income Test and outlines the current intention of the IRS with regard to certain rules governing the Average Income…

Website Accessibility Bill Introduced in Congress

On October 1, 2020, Congressmen Lou Correa (D-CA) and Ted Budd (R-NC) introduced the bipartisan Online Accessibility Act (H.R. 8478) which would create guidance to help businesses ensure their website complies with the ADA. The purpose of the bill is…

Venmo – Understanding the Payment App

In the process of reviewing thousands of tenant files annually, we are seeing rapid growth in Venmo and PayPal transactions on bank accounts. We often receive questions from property managers regarding how to handle these transactions, with the primary question…

HUD Updates COVID-19 Guidance

On October 14, HUD issued updated guidance on COVID-19 as it relates to HUD-assisted properties. Following is some of the new guidance issued by HUD. On-Site COVID Testing HUD will permit the temporary use of property common areas, parking lots,…

Impact of COVID-19 on Affordable Housing Properties

A recently published study by NDP Analytics, funded in part by the National Leased Housing Association, outlines the dramatic impact that COVID- 19 has had – and will continue to have – on affordable housing. According to the study, “Impacts…

Social Security COLA – 2021

The federal government announced on October 13, 2020, that the Social Security Cost of Live Adjustment (COLA) for 2021 will be 1.3%.  This increase will provide an additional $20 per month for the average retiree. This is slightly less than…
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