Due to the volume of reports received, NEF can no longer accept faxed or mailed submissions. Learn about how to submit documents.
The following information is required by NEF, Inc. Access the forms needed to fulfill your reporting requirements below.
MONTHLY CONSTRUCTION & LEASE-UP
Development period project status:
1. Owner’s Sworn Statement
2. Application for Payment page (AIA G702)
3. Architect’s Report, if available
4. Certificates of Occupancy (when delivered)
After closing, at 1st full month and until development budget is fully paid out. If leasing continues after full pay-out, then Leasing Status page is to be sent until full occupancy is achieved.
Within 10 business days of project’s monthly draw meeting.
QUARTERLY PROJECT STATUS REPORT
For investor reporting, as well as showing the financial and operational performance of completed projects.
1. Completion of NEF’s narrative page
2. Rent roll (include information on commercial space if applicable)
3. Year-to-date income statement
4. Balance sheet
After one full quarter of operation or when project is 50% leased.
(Narrative page and end of year rent roll only)
Quarter 1: April 15
Quarter 2: July 15
Quarter 3: October 15
Quarter 4: January 15
PARTNERSHIP TAX RETURNS
Tax Matters Partner:
The general partner is responsible for making sure tax returns are filed on time and partnership financial statements are prepared.
Year-end after partnership formation
Annually, 60 days after year-end, on February 28.
CERTIFIED RENT ROLLS
At Qualified Occupancy (QO):
NEF’s rent roll form, showing household sizes, number of bedrooms and incomes:
a. Rent roll
b. Owner’s Certification Form
c. Managing Agent’s Low Income Certification form
d. Qualified Income Levels form
Annually after QO Year:
A copy of annual certification required by the allocating agency.
QO: When project reaches qualified occupancy (all qualified units have be leased)
Annually: Copy of certification submitted to allocating agency
QO: three weeks after sponsor is notified of reaching QO
Annually: at the same time the annual report is filed with allocating agency
PERMANENT INSURANCE POLICIES
Liability Coverage and General Property Insurance
1. Copies of policies or binders
2. NEF insurance payment form
When Builders Risk is converted to permanent policy.
Within two weeks of policy expiration and new insurance is in effect.