It's actually moot in a 100% LIHTC project, because any unit that becomes available you are then re-adding a qualified household - in a sense you are then always satisfying the rule because you are never (hopefully) renting to a market household.
What if you Get recertified every September but in October you started a new job and your income went up slightly.? Do you have to submit that new income right away in October? Or can you wait and just show them your entire income over the whole year in August or September during the recertification period?
@@SlideRemarks - But The property manager at Pinnacle Property Management Valley Affordable Housing here in Cumberland Rhode Island is asking for 30% of every upcoming pay stub from my new job. Apparently that's not legal, is it?
Simba It sounds like they have other HUD financing, which would require interim financing as well as rental rates based on 30% of household income. Not illegal.
Everywhere I look it's a tenant goes over N dmakes more how about if I lose income and go from 50 to 30% .. Am I because I have to be on a list if a 30% same size comes available.. what if I'm in the middle of living under a lease in a 50% designated unit at the same complex (100% tax credit ) I just get skipped over ..because I'm not at my renewal.. thats abhorrent esp when your on a list for years. Some new person because they arent living here currently gets my apartment at 30% that should go to me. That's what I'm told and I have not been able to find anything even discussing it. Why even have a list.
could you add information to this regarding 100% tax credit project?
It's actually moot in a 100% LIHTC project, because any unit that becomes available you are then re-adding a qualified household - in a sense you are then always satisfying the rule because you are never (hopefully) renting to a market household.
Is this still true in California ?
What if you Get recertified every September but in October you started a new job and your income went up slightly.? Do you have to submit that new income right away in October? Or can you wait and just show them your entire income over the whole year in August or September during the recertification period?
Under the LIHTC program, the tenant recertifies annually, so they would be asked again in the weeks preceding the next September.
@@SlideRemarks - But The property manager at Pinnacle Property Management Valley Affordable Housing here in Cumberland Rhode Island is asking for 30% of every upcoming pay stub from my new job. Apparently that's not legal, is it?
Simba It sounds like they have other HUD financing, which would require interim financing as well as rental rates based on 30% of household income. Not illegal.
Everywhere I look it's a tenant goes over N dmakes more how about if I lose income and go from 50 to 30% .. Am I because I have to be on a list if a 30% same size comes available.. what if I'm in the middle of living under a lease in a 50% designated unit at the same complex (100% tax credit ) I just get skipped over ..because I'm not at my renewal.. thats abhorrent esp when your on a list for years. Some new person because they arent living here currently gets my apartment at 30% that should go to me. That's what I'm told and I have not been able to find anything even discussing it. Why even have a list.
More please. Thanks.
very informative!
Wow that sucks