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October 2018 Newsletter

We open up the scheduling of Utility Allowance calculations every October and this year is already shaping up to be a record-breaking 2019.  So far thousands of client properties have reserved report due dates and our UA department is hard at work.  It is always worthwhile to remind all of our clients that logging into your portal soon and affirming your due dates for the next year helps us to fulfill your request without delays.

For any prospective UA clients that have not taken advantage of having  annual UA calculations completed by Zeffert, we maintain the largest repository of utility data nationwide and use a proprietary reporting system to complete calculations lightening fast.  This diligence on the front end also allows us to complete UA calculations with an incredibly low price point for you.  If you would like to be among thousands of properties that already utilize this convenience, easily request a proposal or email Manager Jamie directly to get more information or to get scheduled.

Be sure to follow us along on our nationwide trainings by liking our Facebook page and check out our new, easy-to-use website for more information with less clicks!

Sincerely,

Jeffrey Promnitz
Chief Executive Officer
 



In this edition:

Student Question at the LIHTC training in Augusta, GA

Student: If a household applies and they have a full-time dependent student over the age of 18, is there an age limit on how old the dependent can be?

Senior Trainer Tari: The IRC, section 42, doesn’t stipulate an age restriction. There is however, a restriction on what can be counted as their income. Figure 5-2 of the 4350.3 HUD Handbook states, for full-time students who are 18 years of age or older *and* are dependents, only a small amount of their earned income will be counted, up to $480, and who are not the head of the family; spouse or co-head. 

*If the earned income is less than $480 annually, count all of the income. If the earned income exceeds $480 annually,* count $480 and exclude the amount that exceeds $480.

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Questions during live trainings are opportunities for affordable housing practitioners to spark real-world questions, interact with an expert, and develop situational awareness.  Zeffert & Associates is one of the most reputable educators in the industry, is a large-scale distributor of the HCCP exam, and awards specialty designations covering fair housing, rural development, HUD, and more.


Training Calendar

Register for courses and view the complete calendar here.  If you have questions or would like to request a topic, location, or private event then email or call (314.514.7711) and we will gladly help.  Note:  Locations and dates subject to change.

Date

Course

Location

Nov 6 - 8

Fair Housing for the 21st Century
Partnership with Wisconsin Council for Affordable and Rural Housing Conference

Wisconsin Dells, WI

Nov 6 - 8

Managing LIHTC Compliance
(optional HCCP exam)

Salem, OR

Nov 13 - 15

Managing LIHTC Compliance
(optional HCCP exam)

Nashville, TN

Nov 27 - 29

Managing LIHTC Compliance
(optional HCCP exam)

St. Louis, MO

Dec 5 - 7

Managing LIHTC Compliance
(optional HCCP exam)

Boise, ID

Dec 5 - 7

Managing LIHTC Compliance
(optional HCCP exam)

Fort Worth, TX

Dec 10 - 12

Managing LIHTC Compliance
(optional HCCP exam)

Anaheim, CA

Dec 11

Practical Fair Housing for the 21st Century
Partnership with St. Louis Apartment Association

St. Louis, MO

Dec 12 - 14

Managing LIHTC Compliance
(optional HCCP exam)

Omaha, NE

Jan 15 – 17

Managing LIHTC Compliance
(optional HCCP exam)

Jacksonville, FL

Jan 22 - 24

Managing HUD Compliance
(optional HCM-H exam - online)

Seattle, WA

Jan 22 - 24

Managing LIHTC Compliance
(optional HCCP exam)

Shreveport, LA

Jan 28

EIV & VAWA Workshop

Portland, OR

Jan 29

Mastering Income & Assets

Eugene, OR

Jan 31

Mastering Income & Assets

Spokane, WA

Jan 29 - 31

Managing LIHTC Compliance
(optional HCCP exam)

Milwaukee, WI

Feb 13

Mastering Income & Assets

Knoxville, TN

Feb 12 - 14

Managing LIHTC Compliance
(optional HCCP exam)

Phoenix, AZ

Feb 20 - 22

Managing LIHTC Compliance
(optional HCCP exam)

Las Vegas, NV

Feb 20 - 22

Managing LIHTC Compliance
(optional HCCP exam)

St. Paul, MN

Feb 26 - 28

Managing LIHTC Compliance
(optional HCCP exam)

Albuquerque, NM

 
Quizzle

Test your knowledge on these questions...or quiz your coworker!

Question 1
Charlotte is applying at Pond Ridge Apartments, a new tax credit community that is closer to her daughter’s school.  She is making $9.25 an hour, and works 28-35 hours a week as a receptionist.  She also receives $80 a month in court ordered child support.  What is Charlotte’s total anticipated annual income? 

a.  $19,895
b.  $17,795
c.  $16,835
d.  $18,795

Question 2
Physical site monitoring by the HFAs were required beginning January 1st of what year?

a.  1986
b.  2008
c.  2001
d.  1990

Question 3
How long is an owner required to comply with federal LIHTC requirements to avoid recapture of tax credits?

a.  10 years
b.  15 years
c.  25 years
d.  30 years

 

Question 4
According to the 8823 Guide, who must owners/managers’ report tenant fraud to?

a.  Local housing authority
b.  State HFA
c.  IRS
d.  HUD


Quizzle Answers

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We send a monthly newsletter and an occasional supplement with important industry announcements or featured training topics, never to exceed four emails per month.  All requests for topics, questions, and comments are welcome!  Call 314.514.7711 or email.
 
       

About Us

Zeffert & Associates, Inc. is a nationwide leader of consulting, compliance, and training for property owners and managers, syndicators, and housing authorities. Established 1994.

 12101 Woodcrest Executive Drive
Suite 180
St. Louis, MO 63141
Office (866) 760-6000
Website | Email

OUR VISION is to see a nation where serving those in need of affordable housing is easier than yesterday, less restrictive today, more certain tomorrow, and possible every single day.

OUR MISSION is to support the property managers, owners, syndicators, and agencies with quality education and consulting services and to do it better than anyone else through our speed in acquiring and delivering knowledge.

OUR FOUR DEPARTMENTS

  • Utility Allowance:  Actual Use, HUD Model, and Baselines calculations
  • Inspection Services: CNAs, 504 Accessibility, Design Reviews, and UPCS
  • Compliance: Electronic and onsite tenant file reviews
  • Training: Public, Private, eLearning, Speaking Engagements

Zeffert & Associates
12101 Woodcrest Executive Drive
Suite 180
St. Louis, MO 63141
www.zeffert.com
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