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Section 42 ?

Wait, What Is Section 42?
Thank you for taking us Diamond Property Management into consideration for providing you your next
Home. You have viewed one of our wonderful communities and have filled out the credit/background
check and have been accepted to join us , but we must complete a Section 42 application too?
Here at DPM some Properties Participate in Affordable Housing under Section 42 with WHEDA AND HUD,
that’s a lot in one breath, but what does that mean? Well this is the long and short version here!
Income and assets verification for residency:
This required due to how the building was built with IRS Tax Code .
Whether or not your income qualifies under a Section 42 community this determined by HUD
(Department of Housing and Urban Development Agency) the county of the community and these fall
under laws mandated by our federal government.
We cannot send a lease out with Tax Credit Application to be Submitted to Compliance who sends us
approval for lease to be executed and allow anyone to move in.

How do I find out if I am eligible for a Section 42 tax credit unit?
Prior to the application we will do a short intake evaluation. You will be asked to complete forms which
will request information regarding your income, family size and financial assets. This information will aid
in determining your eligibility for the program.

What are assets?
Assets are your valuables other than personal items that must be considered when determining your
family income. Examples include savings accounts, certificates of deposit, stocks and bonds. Personal
items such as your car, furniture, etc. are not included.

What is Compliance? Compliance Company?
Compliance means that you fit all the guidelines necessary to live in a Section 42 apartment.

How is my maximum income level determined?
Your maximum income level is based on the number of people in your household and the combined gross
(before taxes/deductions) income. See your county restrictions.

Can someone else live with me?
The apartment is being rented to you and the people who were identified on the rental application. The
Section 42 guidelines require that you immediately notify the Owner/Manager in writing if there are any
changes in your household arrangement. You may be required to complete the certification process again
based on this new information.

Why are some of the units in my building not income restricted?
Apartment Owners have the right to choose whether to offer “mixed-income” housing or what guidelines
were set up with all agencies when the building was activated under the parameters. Therefore, all units
in a community may not be available for Section 42 guidelines and could be priced at the market rent
rates (rates that are determined by comparable apartment communities in that area)

Section 8 the same thing as Section 42?
No. Section 8 housing: Section 8 apartments are apartment homes managed by HUD. There is a voucher
tied to each unit which states that the resident in that unit only pays 30% of their income toward their
rent. The remainder of the rent is subsidized by tax dollars. There is a lengthy process to apply for Section
8 as well. You must do this through HUD. Like Section 42, applicants must submit all assets and income in
order to apply.

Please read this to apply to one of our communities efficiently and correctly.

Verification
In addition to standard wages, income includes monies received from all source.
• Alimony
• Child Support
• Pensions
• Social security
• Asset income
• Bank Verifications

So, the process for our wonderful communities is as follows from our Tax Credit Application.

This application has a $50.00 compliance fee paid by Money Order.

Pay the Order to: Property Name and Unit Number. Please give this to the Property Manager.

Please review Section 42 to Application:
Tax Credit Application You can print this page. Or you can pick up the application up from the local
community of your interest.

If Items Marked Yes + Tax Credit Application
Only gather Direct Contact information from Assets portion of Tax Credit application:
• Name of Provider/Company/Holder
• Phone Number
• Fax Number
• Email if applicable

ALL items from the Asset portion of Application MUST be verified through Provider/Company/Holder
Gather above Contact Information so we may send them the correlating verification document for
Provider/Company/Holder fill out and return the verification to Property Manager. After the Property
Manager reviews the documents and ensures they are filled out correctly this Tax Credit Application is
sent into Compliance Company approval.

Those items need a verification sent and filled out by applicable provider directly, collected and sent in.
Your income must be verified prior to being accepted for residency at a Section 42 community and is
reviewed annually for accuracy.

Please Visit Our Application FAQ Page:
https://www.rentwithdiamond.com/diamond-property-management-wi-apartments-for-rent/diamondproperty-management-wi-rental-application-faq/
Again, thank you for Choosing Diamond Property Management LLC and we look forward to scheduling
your move in soon!

Helpful Links:
Copies of SSI award letter:
Federal:
https://faq.ssa.gov/en-us/Topic/article/KA01717
Call 1-800-772-1213
WI State:
WI SSI Locator:
https://www.dhs.wisconsin.gov/ssi/index.htm
https://secure.ssa.gov/ICON/main.jsp
Call: (800) 772-1213

Current Available Properties:
https://www.rentwithdiamond.com/diamondproperty-management-wi-apartments-for-rent/
All Properties:
https://www.rentwithdiamond.com/diamondproperty-management-llc-wi-rental-properties/

Wisconsin Property Management Company – Brought to you by Diamond Property Management LLC – Budgeting

Searching for the right apartment may be a daunting task. To ensure your next move is the right one we have some suggestions. Diamond Property Management LLC has Apartments throughout Wisconsin.  From Green Bay Apartments    to Beliot . Easy access to freeways for commuting like our numerous properties  here at Diamond Property Management LLC.

If you are looking for a Family Friendly property where the kids can play on a wonderful playground

Hawthorne ApartmentsOr in search of Senior Housing to sit back and relax with activities and alike neighbors our properties have something for everyone. 

Need a place to let your pet run around? We really do have a variety of Properties for every budget and need!

 

When making your next move we have some useful tactics to ensure your next move is the best move yet. We suggest coming up with your budget, researchers suggest your monthly rent expense should be no more than about 23% to 25% of your take home pay.*  This is crucial to budget for a rainy day like a car repair or any unforeseen situation. When also looking at your budget you must take into consideration for your deposit for the unit and utility providers require up front cost for activation and installation. When looking in an area that you have decided it best practice to contact the utility providers, cable/internet, and local municipality to verify cost associated.

Now you started some of your research and have began a budget plan for your new home  Narrow down your must haves and have not.  When looking for a home you must factor the cost of moving as well as your time to make that move – you want to ensure your move is something you can afford, but also you will be happy and afford it comfortably. Looking at commute time or accessibility to public transit are key factors when budgeting expenses. Also saving for your future or rainy day –  create a realistic budget and stick with it.

Here is a useful blog that may help you creating your budget:

15 Budgeting Tips for Your Daily Life*
Ready to get started? Here are the top 15 budgeting tips!

1. Budget to zero before the month begins.
This means before the month even starts, you’re making a plan and giving every dollar a name. It’s called a zero-based budget. Now that doesn’t mean you have zero dollars in your bank account. It just means your income minus all your expenses (outgo) equals zero.

2. Do the budget together.
If you’re married, you and your spouse need to sit down and get on the same page about money. Remember: If the two of you are one, your bank accounts should be one too! It’s no longer your money or my money—it’s our money.

And if you’re single, find someone who can act as your accountability partner and help you stick to your goals!

3. Every month is different.
Some months you’ll have to budget for things like back-to-school supplies or routine car maintenance. Other months you’ll be saving for things like vacations, birthdays and holidays. Regardless of the occasion, make sure you prepare for those expenses in the budget. Don’t let these special occasions sneak up on you. (Hint: Christmas is in December again this year, guys!)

Be sure to adjust your budget each month as things change. Make a savings fund you can stash cash in throughout the year. When you don’t have a plan, you’re going to be stressed. And that takes all the fun out of giving and celebrating. No one wants that!

4. Start with the most important categories first.
Giving and saving are at the top of the list, and then comes the Four Walls—food, shelter and utilities, basic clothing and transportation. Once your true necessities are taken care of, you can fill in the rest of the categories in your budget.

5. Pay off your debt.
If you have debt, paying it off needs to be a top priority. Use the debt snowball method and the Baby Steps to get rid of debt as fast as you can. Attack it! Get mad at it! Stop letting debt rob you of the very thing that helps you win with money—your income.

6. Don’t be afraid to trim the budget.
Brace yourself! It might be time for some budget cuts in your life. If things are tight right now, you can save money quickly by canceling your cable, dining out less, and shopping at discount clothing and grocery stores. Remember, your budget cuts are only temporary. You can always make adjustments later down the road.

7. Make a schedule (and stick to it).
While you’re making a budget part of your monthly routine, why not pick specific dates for other expenses? Set up auto drafts out of your checking account to pay bills, and buy your groceries on a set day every week or twice a month. When you know what to expect and when to expect it, you take a lot of stress and potential pitfalls out of the picture.

8. Make it a team effort.
If you’re married, it’s important to talk to your spouse about money—especially the budget. A big part of marriage is creating a life you love together; money is simply a tool to help you realize those dreams.

Sit down once a month and have a budget date night. Make it fun! Grab some of your favorite snacks and put on a good playlist to help you focus. The important thing here is that you’re both on the same page. And don’t forget to celebrate the small wins together. Look back at your earlier budgets and see how far you’ve come. I bet you’re spending significantly less on groceries.

9. Create a buffer in your budget.
Put a small amount of money aside for unexpected expenses throughout the month. Label this as your miscellaneous category in your budget. That way when something comes up, you can cover it without taking away money you’ve already put somewhere else. Keep track of expenses that frequently end up in this category. Eventually, you might even want to promote them to a permanent spot on the budget roster.

10. Cut up your credit cards.
If you’re really committed to sticking to a budget and getting out of debt, you need to ditch those credit cards for good. Stop using them! Cut them up, shred them, or even make a craft project out of them! Whatever you do—get them out of your life.

Having no credit card debt will mean no more minimum payments to add to the budget, zero hassle with fees or high interest rates, and much less stress and worry! Stick to using your debit card (and even cash!), and dump those credit cards like your ninth-grade fling. You know what the great thing about a debit card is? The money comes straight out of your bank account! There’s no middleman charging you 15% interest.

11. Use cash and the envelope system for certain budget categories that trip you up.
If you’re constantly overspending on your grocery budget or fun money, cash out those categories. Just go to the bank and pull out the cash amount you’ve budgeted for that category. I like to use clips to hold the cash together by category in my wallet. Once the cash runs out, stop spending! It’s the ultimate accountability partner.

12. Try an online budget tool.
If pen and paper (or spreadsheets) aren’t your thing, it’s time to join the 21st century and use a budgeting tool like EveryDollar. You can focus on planning a budget and tracking your spending from the comfort of your smartphone! Plus, you can sync up your budget with your spouse, which is great for keeping that communication open.

13. Be content and quit the comparisons.
You have much more than you realize. Don’t compare your situation to anyone else’s. Comparison will not only rob you of your joy but also your paycheck. Keep moving forward and doing what’s right for your family.

14. Have goals.
Whether you’re paying off student loans, building up your emergency fund, or paying off your mortgage, you need to focus on your why. What’s the reason you’re making these sacrifices?

15. Give yourself lots of grace.
It usually takes three to four months to get a handle on this whole budgeting thing. It won’t be perfect the first time, or the second. But you’ll get there!

 

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Sources*

How to Budget for Apartment Expenses – LaTisha Styles

https://www.daveramsey.com/blog/the-truth-about-budgeting

Autumn, Fall Leaves, Pumpkins and Winter Preparations Brought to you by Diamond Property Management LLC a Wisconsin Property Management Company

Fall is full of pumpkin cookies with cinnamon and sugar.  As the season turns into Autumn we have football, festivals, and fun! 

The hot humid temperatures decline it’s time to put the sandals away and bring out the sweater and place your sandals in storage.

The creatures and spiders are out not just for Halloween they will be looking for a place to relocate.

Autumn’s the time for “spring cleaning”!

With winter coming, it makes sense to tuck the family into a freshly-cleaned home via fall cleaning. Deep clean now to take advantage of good weather and to welcome approaching holidays with a clean and comfortable home.

Use Autumn’s brisk and breezy days to conquer deep-cleaning chores for a clean and comfortable winter home, and to wrap up summer’s outdoor lifestyle.

Wisconsin has had a lot of rain and sitting water even though we appreciate the help from spiders -this is a roommate who is not on the lease and I am not sharing my  living space with.

Spider season is starting in the beginning preparing your home from the coming winter months is imperative to do before old man winter arrives. As the frequently here “ Spring Cleaning” this is the time to prepare and clean up as our windows will be sealed up and we all prepare for hibernation.

Being proactive in checking weather stripping to keep drafts out and lowering utility cost, but also keeping out unwanted roommates.

Spider activity this time of year  although these neighbors typically will nest away from other predators (like you and the rest of us). They prefer low activity – damp areas like bathrooms and kitchens, and you may also find them in low and high corners too.

Clean and store patio furniture, umbrellas, children’s summer toys, but remember to wipe them down to avoid bringing them into your home. Wash exterior and interior  windows as you will want to enjoy seeing the snow flakes coming down clearly.

Some tips and areas to focus on

In the Kitchen & Bathroom the grout

Refrigerator

 Inside of your dishwasher

Clean and condition the wood of your bathroom and kitchen cabinets

Oven

Wash and disinfect all the garbage cans

In your common living areas

Vacuum upholstered furniture under your upholstered furniture cushions

Polish your wood furniture

Wash artificial plants

Dust living plants’ leaves

Wipe down your screens (TV, computer, etc.)

Clean all keyboards and remote controls

All Around the House

Wash your walls

Wash your windows, window sills, and all the window groves

Washer and Dryer

Clean your doorknobs, doors, and light switch plates

Vacuum under all beds, couches, and other furniture

Dust the tops of doors and door frames

Spot clean carpets and rugs

Clean floors underneath area rugs

Wash curtains or have them cleaned

Remove and rinse your window screens

Wash your washable vacuum cleaner filters

Clean your baseboards

Tackle Some Seasonal Maintenance

Rinse you’re A/C air filter

Replace your fire alarm batteries

Dust your ceiling fans and set them to turn so air circulates upward

 

Where are these Creeping spiders and bugging bugs coming from?

Long story short, spiders and insects are looking for food and the prime living conditions for our long winter. Keeping our outdoor plants inside during winter – these are great living conditions as they hide in the crevasses house these creatures, and when they see an opening into your home, off they go.

I was always told never pick up a Hitchhiker well as we put away the summer fun items and unpack the winter items we disturb these guys and gals! Spiders are like a stow away on boxes, outside items, equipment you move inside from the storage unit or garage.

Breaking and entering creatures – how to avoid them?

The best way to stop spiders from making your home their humble abode is to curtail their food source. Insects are attracted to food crumbs, and spiders eat insects, so be sure you’re regularly sweeping and vacuuming to keep your apartment pest-free. If you have plants, move them away from the entry points and windows.

Remember mice and other critters will be looking for the ideal conditions be vigilant of cleaning patio areas off for mouse motel opportunities remember as we gear up for winter so does nature.

 

Spider season is luckily short (typically September through early October) – and soon enough we won’t have to deal with pests at all come winter!