Professional Publishing, Inc
www.TheLandlordTimes.com
May 2013
COLORADO
DENVER METRO • COLORADO SPRINGS • BOULDER
Vol. 5 Issue 5
Monthly CirCulation to More than 7,000 apartMent owners, property Managers, on-site & MaintenanCe personnel
Obama Administration Announces $1,237,701 to Continue Helping Homeless Persons and Families in Colorado HUD grants renew support for 9 local housing and service projects U.S. Housing and Urban Development (HUD) Secretary Shaun Donovan recently awarded $1,237,701 a second round of grants to support 9 local homeless housing and service programs in Colorado. Provided through HUD’s Continuum of Care programs, funding announced recently will ensure these HUD-assisted local homeless assistance programs remain operating in the coming year. Last March, HUD awarded additional support to hundreds of other existing local programs and will make a third round of funding to support selected new projects later this year. View a complete list of all the Colorado homeless projects awarded funding. Continued on page 2
Apartment Industry Outlines Tax Reform Principles for Congress Tax reform must be comprehensive and take special care not to harm the thousands of businesses involved in multifamily real estate nor the 35 million Americans who call an apartment home. This was the focus of testimony by the National Multi Housing Council (NMHC) and the National Apartment Association (NAA) before the House Committee on Ways and Means recently. Representing NMHC and NAA, Thomas Moran, Chairman and Managing Partner of Moran & Company, testified on the need to meet the housing needs of what the Harvard Joint Center for Housing Studies research suggests is up to seven million new renter households this decade.
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“Like many other small businesses, the apartment industry has a considerable stake in tax reform. In addition, we provide homes for millions of Americans covering the entire socioeconomic spectrum," said Moran. "An estimated 300,000 to 400,000 units a year must be built to meet expected demand; yet just 158,000 apartments were delivered in 2012 – not enough to even replace the units lost every year to demolition and obsolescence." To meet the ongoing demand for rental housing, the apartment industry asks Congress to: • Ensure that tax reform is comprehensive and does not reduce corporate taxes at the expense of small businesses.
Current Resident or
• Maintain the current treatment of carried interest to help offset the considerable financial risks in real estate. • Retain the 100 percent deduction for business interest. • Protect the Low-Income Housing Tax Credit program, which is responsible for more than 2.4 million affordable apartment homes. • Respect the estate tax legislation enacted as part of the American Relief Act of 2012. • Modify the section 179D Energy Efficient Commercial Buildings Tax Deduction to enable more properties to qualify for the incentive. “The apartment industry builds vibrant communities by offering Continued on page 3
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Clearing the Air: Best Practices for Enforcing Smoke-free Rules Not long ago, it was common to smell cigarette smoke in Washington workplaces and restaurants. But with mounting evidence that secondhand smoke causes disease and death, and the passage of Washington’s smoke-free indoor air law, people have come to expect clean air where they work and live. Secondhand smoke can cause heart attacks, lung cancer, and trigger longer and more severe asthma attacks in children. It is responsible for an estimated 49,400 deaths among non-smoking adults in the U.S. each year. Yet the home remains one of the most common places where people continue to be exposed—often due to secondhand smoke drifting from a neighboring unit or patio. Today, no-smoking rules are becoming the norm. In fact, ninetytwo percent of Washington renters prefer smoke-free housing. Over the last 10 years, thousands of rental properties across Washington and the nation have gone smoke-free. The trend reflects the benefits of reduced cleaning and turnover costs, fire and property damage prevention, and cleaner, healthier residences. The key to successfully implementing a no-smoking rule is clear and consistent enforcement. Taking the rule seriously from the start, and ensuring that it applies equally to all residents, will send a clear message that smoking is not allowed. Continued on page 3