Other Housing Information
This area includes everything from disaster planning to preventing bedbugs.
We've featured some articles below, but be sure to check out all of our senior housing content.
Highlights of late Congressional Action finalizing HUD FY16 Funding, including LIHTC 9% credit made permanent, and restoration of Rural Rental Assistance shortfalls.
The President signed into law December 4 provisions included in the five-year transportation bill the authority to perform triennial income reviews for tenants on fixed incomes. Unfortunately, other administrative streamlining provisions, including increases to the standard deduction for elderly and disabled families from $400 to $525 along with a raised threshold (from 3% to 10% of income) above which medical expenses would be deducted, were not included in a last-minute upset during committee mark-up.
The U.S. Department of Housing and Urban Development (HUD) is taking specific steps to improve communications, including development of some noteworthy newsletters. Read the latest HUD multifamily newsletter, providing insights on the transformation as Wave 4 (Northeast) is underway and steps begin for Wave 5 (West Coast), staffing changes and more.
On Dec 11, 2015, HUD published the final Fair Market Rents for 2016, effective immediately. FMRs are used to establish the payment standard a public housing authority can subsidize through the housing choice voucher program and which serve as a cap on the rents an owner may collect for HOME units. With vouchers playing a greater role in preservation efforts, multifamily owners should take note.
The Joint Center for Housing Studies (JCHS) of Harvard University has released “America’s Rental Housing: Expanding Options for Diverse and Growing Demand,” a report on the record growth of rental housing demand. The report explored how expanding low-income housing tax credit (LIHTC) and U.S. Department of Housing and Urban Development (HUD) funding could better serve cost-burdened households.