Several AAMD and CAA representatives attended the 2013 National Apartment Association’s Capitol Conference in March in Washington D.C.  This annual conference provides attendees with up-to-the-minute information on federal legislation that affects the multifamily industry.  It provides attendees an opportunity to relay our messages and concerns to our congressional delegates.  Meetings were scheduled with the Colorado delegation on Wednesday.

Pat Hutchison, Mission Rock Residential; Terry Simone, NAA Region 8 Representative; Tatianna Gruen, Apartment Association of Metro Denver, and Nancy Burke, Colorado Apartment Association, united to form an excellent lobbying force at the Capitol in Washington DC.  They met with several congressional delegates to discuss GSE reform, and the need for capital as our industry requires adequate financing to build much needed multifamily properties.  They also shared insight on immigration reform.  Our concerns were relayed on the unnecessary mandate on property managers to serve as “police” in immigration reform.  They also discussed the need for a comprehensive approach to the issue of immigration which includes increased security around the borders and a systematic approach to legalization.

Another educational talking point included the new dynamics in the rental housing market and explained that by 2015 we are expecting over 7 million new renter households.  They shared information relating to the recent shift in single family rentals as the market is now 52% single family rentals and our concerns about the accidental landlord missteps.

Additionally, they were able to present our community outreach measure to the delegates.  The Association’s efforts were very well received by our local community investment focus and were applauded.  Outreach measures included Landlord 101 and the focus to assist residents to include their rent payments as part of the credit scoring analysis.

Overall, our message was well received.  Our lobbying efforts benefited the Colorado multifamily industry in the fact that they were able to have one on one time with many of the delegates and their housing staff.

For more information on how you can participate in next year’s Capitol Conference, please contact the Government Affairs Department of the Association.

Are you renting your home or investment property?

Join us for a special educational community presentation: Landlord 101
Presented by:
Denver City Councilwoman, Deborah Ortega
Denver Fire Chief, Joseph L. Gonzales
Housing Attorney, Deborah Wilson of Springman, Braden, Wilson, & Pontius, P.C.

What you will learn:
-Landlord basics
-Best practices to manage your property
-Local and state safety concerns (presented by the Denver Fire Department)
-Will your lease stand up in court?
-How to conduct credit checks
-Overview of the evictions process
-Your responsibilities as a Landlord

DORA (DIVISION OF REAL ESTATE) HAS APPROVED THIS SEMINAR FOR 2 HOURS OR REAL ESTATE CONTINUING EDUCATION CREDIT TOWARDS LICENSE RENEWAL.

DATE & TIME: Saturday, March 9, 2013 at 9am-Noon

LOCATION: PPA Event Center (2105 Decatur St, Denver, CO 80211)

COST: $25/person

Reserve your spot today at www.aamdhq.org/landlord101

 

Landlord101_2013

IRS Proposes Changes to Utility Billing Rules for LIHTC Properties

The Internal Revenue Service (IRS) has issued a proposed rule (77 FR 46987) that would make changes to current regulations governing utility allowances at Low-Income Housing Tax Credit (LIHTC) properties in cases where residents pay their own utilities.

Among other things, the notice clarifies that property owners cannot use ratio utility billing systems (RUBS) to estimate utility costs and that models and estimates are to be based on actual use data for similar or common rental units. However, the notice would also allow LIHTC-administering housing agencies to validate a utility estimation method as opposed to simply approving or rejecting the results of a utility estimates submission, as is currently the case. NAA/NMHC areconcerned that such a change could result in housing agencies banning some of the estimation options now available.

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