About The Event
WE will learn how to calculate tenant rent in different scenarios. Most common is how rent is calculated in a HUD property or public housing. Total Tenant Payment (“TTP”) refers to the amount of money families in public housing are required to pay for rent each year. There are two different types of rent: (1) Income-Based Rent, and (2) Flat Rent. Housing managers calculate both Income-Based Rent and Flat Rent on a yearly basis. Tenants are given their choice between Income-Based Rent and Flat Rent each year during their annual re-certification.
We will also discuss how rents are determined in a tax credit property. This differs from subsidized rent used in HUD programs.
This training will review HUD’s rules on calculating adjusted income and the rent formulas for programs covered under HUD Handbook 4350.3.
- Frequent Errors
- What’s Included In Annual Income
- What’s not Included in Annual Income
- Assets Included
- Assets Not Included
- Determining Income From Assets
- Calculating Income from Assets When Assets Total $5,000 or Less
- Determining and Calculating Adjusted Income
- Verification Requirements
- Effective Term of Verifications
- Interim Recertification’s
- Record-Keeping Procedures
- Calculating Tenant Rent
- Utility Reimbursement
- Minimum Rent
- Determining Tenant Contribution at Properties with Multiple Forms of Subsidy
Who Should Attend
- Compliance staff
- Housing Authorities
- Leasing agents
Industries: Construction & Housing, Affordable Housing
Paul has been involved in the real estate industry for the past 38 years. He has been involved in sales, construction, project management, appraisal, property management and property management consulting/training.
Through his consulting company, Property Management Solutions, he provides training and consulting services nationwide to owners, management companies, multi-housing associations, as well as state and federal agencies.
He specializes in fair housing issues and has developed fair housing and outreach programs for governmental agencies as well as conducting seminars which are presented to property management companies, apartment associations and the general public nationwide. Most recently, he has been a consultant to the State of South Dakota. In this assignment he has developed a fair housing awareness program that is one of the first of its kind in the nation. It involves a three pronged approach to fair housing awareness. This approach makes use of an ombudsman concept and has proven to be very effective in dealing with discrimination and landlord/tenant issues.
For over twenty years he was involved in appraisal of residential, multi-family, farm and commercial properties throughout the Midwest. Most recently, he was a consultant for affordable, multi-housing properties in 22 different states. This involved properties in HUD, Rural Development, HOME and Tax Credit programs.
He holds numerous professional property management designations and currently holds the prestigious RHM designation from the National Center for Housing Management.
Paul was previously Vice President of the South Dakota Multi-Housing Association, Vice Chairman of the Minnehaha County Housing and Redevelopment Commission, and Chairman of the Sioux Falls Property Appeals Board. In 2009, he received the Outstanding Educator of the Year award from the South Dakota Multi-Housing Association.
Paul just authored a book which was released in January of 2015. It is titled: “Fair Housing: What Everyone Should Know”. This is a comprehensive book about the fair housing written with a property manager’s perspective and with real world examples. It is a great resource for anyone.
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