EXHIBIT [31.2]

I, Jenny Netzer, certify that:

1.       I have reviewed this annual report on Form 10-KSB of Boston Financial
         Qualified Housing Tax Credits L.P. III;

2.       Based on my knowledge, this report does not contain any untrue
         statement of a material fact or omit to state a material fact necessary
         to make the statements made, in light of the circumstances under which
         such statements were made, not misleading with respect to the period
         covered by this report;

3.       Based on my knowledge, the financial statements, and other financial
         information included in this report, fairly present in all material
         respects the financial condition, results of operations and cash flows
         of the small business issuer as of, and for, the periods presented in
         this report;

4.       The small business issuer's other certifying officer and I are
         responsible for establishing and maintaining disclosure controls and
         procedures (as defined in Exchange Act rules 13a-15(e) and 15d-15(e))
         for the small business issuer and have:

     (a) Designed such disclosure controls and procedures, or caused such
         disclosure controls and procedures to be designed under our
         supervision, to ensure that material information relating to the small
         business issuer, including its consolidated subsidiaries, is made known
         to us by others within those entities, particularly during the period
         in which this report is being prepared;

     (b) Evaluated the effectiveness of the small business issuer's disclosure
         controls and procedures and presented in this report our conclusions
         about the effectiveness of the disclosure controls and procedures, as
         of the end of the period covered by this report based on such
         evaluation; and

     (c) Disclosed in this report any change in the small business issuer's
         internal control over financial reporting that occurred during the
         small business issuer's most recent fiscal quarter (the small business
         issuer's fourth fiscal quarter in the case of an annual report) that
         has materially affected, or is reasonably likely to materially affect,
         the small business issuer's internal control over financial reporting;
         and

5.       The small business issuer's other certifying officer and I have
         disclosed, based on our most recent evaluation of internal control over
         financial reporting, to the small business issuer's auditors and the
         audit committee of the small business issuer's board of directors (or
         persons performing the equivalents functions):

(a)                          all significant deficiencies and material
                             weaknesses in the design or operation of internal
                             control over financial reporting which are
                             reasonably likely to adversely affect the small
                             business issuer's ability to record, process,
                             summarize and report financial information; and

(b)                          any fraud, whether or not material, that involves
                             management or other employees who have a
                             significant role in the small business issuer's
                             internal control over financial reporting.

Date:    July 13, 2005                           /s/Jenny Netzer
                                                 Jenny Netzer
                                                 Principal Financial Officer
                                                 Arch Street III, Inc., as
                                                 Managing General Partner of
                                                 Boston Financial Qualified
                                                 Housing Tax Credits L.P. III