determining-income-and-calculating-tenant-rent

Determining Income and Calculating Tenant Rent

Live Webinar

  • 60 minutes

Reasonable accommodation is one of fair housing’s “hot topics”. This typically accounts for over 50% of the fair housing complaints to HUD in the past year. Reasonable accommodations can be requested during the application process, during tenancy and during an eviction. It is important to learn the correct procedure to ask for, review and implement this important action. Reasonable accommodations are requested because of a disability of either physical or mental issues. It is important that one understand the definition of disability and when it come into play to allow a disabled person to enjoy the same quality of life as an non-disabled individual.

Join this session by expert speaker Paul Flogstad, where he will discuss how rents are determined in a tax credit property. This differs from subsidized rent used in HUD programs. Also discussed are reasonable accommodations for assistance animals. We will cover how to determine the actual need for the animals and how to correctly verify that need with a medical professional. Also included will be some verification forms for you to use as well.

Session Highlights:

  • The household’s total tenant payment, based on HCV program regulations

  • The rent subsidy, based on the PHA's HCV payment standard

  • The total cost of the housing, including the rent charged by the owner and the cost of any tenant-paid utilities. The U.S. Department of Housing and Urban Development (HUD) requires this cost to be “reasonable" based on modest housing costs for the locality.

  • In a tax credit property rents are determined using the area’s median gross income (AMGI) as determined by HUD as well as the size of the unit and family composition.

Why You Should Attend:

We will learn how to calculate tenant rent indifferent 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.

Who Should Attend:

  • Property Owners

  • Property Managers

  • Housing Authority Staff

  • Compliance Staff

  • Leasing Agents

  • Attorneys


*You may ask your Question directly to our expert during the Q&A session.
** You can buy On-Demand and view it as per your convenience.

Paul Flogstad

Paul Flogstad

Paul has been involved in the real estate industry for the past 38 years. After college graduation he was in law enforcement for 4 years. From that point on, he has been involved in sales, construction, project management, appraisal, mortgage consulting and brokerage, property management and property management consulting/training. 

Most recently, he was a consultant for affordable, multi-housing properties in 22 different states. This involved properties in HUD, Rural Development and Tax Credit programs. In this role he supported managers by training, compliance, budgeting, developing policy and procedures as well as creating successful marketing strategies. Previously was a regional manager for a large property management company in South Dakota. 

For over twenty years was involved in appraisal of residential, multi-family, farm and commercial properties throughout the Midwest.

He holds numerous professional property management designations and currently holds the prestigious RHM designation from the National Center for Housing Management. 

In 2007 he formed Property Management Solutions. In this capacity, he provides training and consulting services nationwide to owners, management companies, multi-housing associations, as well as state and federal agencies. 

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.

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