announcements

COMPLIANCE TIP California and Idaho have set their minimum wage amounts that take effect 1/1/2025. See below and take note of current rates within your state. Oregon’s Minimum Wage is typically addressed in June. Let us know if you have any questions regarding the minimum wage in your state. Reminder that the Compliance Team is

*A reminder to all Tax Credit properties* Regarding the Tax Credit Lease Addendum (LIHTC Section 42 Properties) form (C169): What you need to know: -This is the document that allows us to raise a unit’s rent to a higher set-aside if the household’s income increases. -To be completed for every annual certification. -ALL 3 PAGES SHOULD BE INCLUDED –

How to fill out the “Unemployed / Zero Income Form” , and “Zero Income Checklist”,. Attached are example forms for California, Idaho /HUD/RD and Oregon.  The “Income status Certification” – Oregon Tax Credit Only.  These forms are used when an applicant or resident does not have earned income (Social Security, VA, Retirement, No Income, ect”).   TIP to take

The 2025 Social Security Cost-of-Living Adjustment (COLA) was announced yesterday at an increase of 2.5%. This adjustment needs to be applied to all recertifications that have not been completed and sent to compliance. *If you have already completed October, November, December, and January recerts and they have been approved and sealed, we do not need to go back

FILES: MI/AR/IR certification is considered UNREVIEWABLE if not placed in correct file order.  In order for auditors/compliance to review and send approval results in a timely manner, files need to read like a book. Please refer to Tax Credit/HUD/RD transmittal sheet (located in Tenant Tech) for correct file order when submitting to compliance. FILE/EMAIL LABELS: To ensure files

Today’s TIP is when to use the “True and Correct as of <Date>” Statement. When paperwork is being signed & dated after the “due date,“ it must include the statement “True & Correct as of <certification effective date>”. Use this below procedure unless otherwise guided by Compliance or your Supervisor:

This TIP applies to all affordable properties, except HUD only properties. When completing any Certification in Yardi (MI, AR, IR), and the resident receives ANY type of subsidy, ensure the “Subsidy Type” is selected correctly. This option needs to be selected in two different areas (three areas if the unit is HOME). Download Compliance Tips: Completing Subsidy Type in Yardi Screenshots