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Rooftop leases offer owners a chance to align financial objectives with sustainability and innovation. With careful planning, rooftop leases can transform underutilized spaces into valuable assets and access new revenue streams while contributing to affordable housing’s resilience and environmental goals.
There’s a narrower definition of excluded income now.
Low-income housing tax credit law requires site owners to use HUD’s Section 8 rules when calculating household income. According to Treasury Regulations §1.42-5(b)(1)(vii), “Tenant income is calculated in a manner consistent with the determination of annual income under Section 8 of the U.S. Housing Act of 1937.” Given this requirement, understanding how Housing Opportunity Through Modernization Act (HOTMA) provisions affect income calculations is crucial.
Understanding the program can help you market your site.
The Section 45L tax credit is a federal tax credit intended to foster the development of energy-efficient homes and buildings. The credit was first introduced as a tax deduction under the Energy Policy Act of 2005. At the time, it allowed developers of energy-efficient residential properties to claim a deduction of up to $2,000 per unit for eligible construction or rehabilitation projects meeting specific energy-efficiency criteria.
HUD warns against artificial intelligence-based housing discrimination.
The use of artificial intelligence (AI) technologies in the multifamily industry has been raising red flags. As an increasing number of tenant screening companies claim to use AI to detect “higher-risk renters,” housing and privacy advocates are sounding the alarm on opaque algorithms that they say are enabling high-tech discrimination and amplifying existing biases in an already unequal housing market.
Broken air conditioners are a red flag to NSPIRE inspectors.
Keeping your residents cool and comfortable in the summer should be one of your top priorities. If summer hits before you’re prepared and your air-conditioning system breaks down, you risk angering residents who will have to endure sweltering heat. Some residents may even try to deduct money from their rent for the time the air-conditioning system was broken.