LEASING

The owner of large site in California recently made the mistake of seeking low-income prospects for units without informing management about his leasing strategy, reports tax credit expert Steven M. McDonald. Luckily, management took quick action to avoid problems that had the potential to violate fair housing laws, break the "transient unit rule," and cost the owner rent increase opportunities down the road.

McDonald draws two conclusions from this recent episode, in which a site owner flirted with disaster. First, you should remind the owner to consult you before taking any steps toward leasing-up a tax credit site. second, you should centralize a leaseup campaign from start to ...

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