The rent-up rules on an acquisition rehab Tax Credit property are very different from new construction and can significantly impact your credit claim. This course explains these differences plus provides tips that allow you to maximize your credits and experience a smoother rent-up.
Renting up an Acquisition/Rehab Tax Credit property
is NOT for the faint of heart!
The rules are different as compared to rent-ups on new construction PLUS you often find yourself dealing with very specific management issues including…
- Existing tenants — some of whom are a problem and/or become uncooperative,
- Previous management problems and/or vacancy issues,
- Ongoing construction that often forces moving tenants around the property, and a
- Lack of understanding in the rule differences among your investors and state HFAs.
In this course, Elizabeth explains such allocations including how…
- Placed in service dates, credit period start dates, credit calculations and first year applicable fractions are set.
- Rent-up is different from new construction and how that affects how you tackle this process.
- Units become labeled as Tax Credit including the role of the Line 8b election.
- To maintain a good relationship with the existing and newly acquired tenants while maximizing your credits.
And then, to round out the course, she walks you through a specific & detailed example putting all of this information together so you can see how the entire process affects the first year credit claim.
This course is a must for anyone working on an acquisition/rehab property!
Approved for continuing education by all state HFAs and the industry’s compliance designations (e.g., NCP, HCCP, C3P, SHCM, etc.).
NOTE: This is an advanced-information course ONLY so there are no quizzes.