Clients include owner/developers, property management firms, and syndicator/investor partners.
Tenant Income Certification Packages and Pre-Approval
Quickly ensure all households are within the income limit, paying a restricted rent, and do not violate student restrictions of the LIHTC program.
- All applicant files are processed before the start of occupancy to ensure no gaps in compliance.
- Application review available to new developments and stabilized properties.
- Revisit pre-approved files and share reports with investors, meeting all due diligence requirements.
- Annual recertification files.
Our team is highly experienced with new construction, acquisition/rehab, resyndication, and even Average Income Minimum Set Aside developments.
- Acquisition/rehabilitation: We have experience with “safe harbor” income certifications of existing tenants as well as understanding how best to approach tenant relocation.
- We work with owners and managers to apply IRS guidance and assist in the calculation of the first year applicable fraction.
- Resyndication of existing LIHTC developments: review tenant files to determine if Income Grandfathering protections can be applied.
We work together with investors to ensure that projects are compliant with all LIHTC regulations.
- Initial qualified occupancy: Review of all first year tenant files and issue of close out letter summarizing noncompliance risk levels.
- Annual compliance testing: To establish ongoing compliance
- Our investor reports feature a high level of detail along with a concise summary that clearly outlines recommendations for next steps.
We also provide:
LIHTC Compliance Training
Training may be deployed in person or remotely and geared towards new staff needing to learn the fundamentals, or experienced individuals wanting a refresher.
New York City Affordable Housing Lottery
Our software was developed to provide all income testing and reporting requirements for New York City affordable communities regulated by HDC and HPD.
Compliance Consulting You Can Trust
LIHTC Compliance Reviews Don’t Have to Be a Painful Process. At Qualified Compliance, We believe in:
We work with you — not against you — to find the best path forward.
We don’t look for problems that don’t exist, and we don’t miss problems that could result in costly penalties.
It is critical to ensure prospective applicants are properly qualified. But it is also important that leasing efforts are not unnecessarily delayed. Our typical processing time for tenant files is 1-2 business days.
We make it easy to upload files for review and generate reports that are easy to read, with simple instructions for next steps.
A Trusted Advisor
When possible, we assign you the same analyst, so your team receives consistent feedback and predictable results.
Our pricing is always transparent. We don’t believe in hidden fees or charging extra when a review of corrections has been requested.