Lead Paint Questions #2: Is EPA disclosure required for senior housing?

In our last article, we discovered that older properties are exempt from lead paint disclosure requirements if they are certified lead free. Now we will examine if disclosure is required for a property designed to house the elderly. These questions were asked by readers recently, and we thought some of our other readers would be interested in the result of our research. As explained on the EPA website HERE, housing built before 1978 may contain lead-based paint. Lead exposure is especially harmful to young children and pregnant women. Before renting pre-1978 housing, property owners must disclose the presence of known lead-based paint and/or lead-based paint hazards in the dwelling and provi

Quiz 03/19/2018: Income Limits - Part 1

In anticipation of the release by HUD of income limits by April, the topic is income limits. 1. Once a tax credit property is placed in service, it will not use lower income and gross rent limits, even if limits go down in the property's area. True or False 2. MTSP income limits are used for which programs: A. HUD B. Tax credit and tax exempt bonds C. HOME funds D. All of the above 3. Once HUD releases the HUD and MTSP income limits, these must be implemented for HOME units. True or False CLICK HERE for answers to this week's quiz

Lead Paint Questions #1: Is EPA disclosure required for buildings certified to be lead-free?

Is lead based paint disclosure required if a lead paint analysis was done and came back clean? This, along with one other question, was asked by a client recently, and we thought some of our other readers would be interested in the result of our research. As explained on the EPA website HERE, housing built before 1978 may contain lead-based paint. Lead from paint, paint chips, and dust can pose health hazards if not managed properly. Lead exposure is especially harmful to young children and pregnant women. Before renting pre-1978 housing, owner/agents must disclose the presence of known lead-based paint and/or lead-based paint hazards in the dwelling. Residents must also receive a federally

Quiz 03/05/2018: Life Insurance Accounts

1. The value of which type of insurance account is counted as an asset to the person owning the insurance? A) Whole life B) Term life 2. Just prior to moving in, an applicant's husband died. The applicant received $250,000 from his term life policy. This money is not counted because it was the proceeds from a term, not whole, life policy. True or False CLICK HERE for answers to this week's quiz

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