Conquer LIHTC Compliance Fundamentals (Post-HOTMA)

CONQUER LIHTC COMPLIANCE FUNDAMENTALS

Managing an LIHTC property can be overwhelming, even for the most experienced property management professionals, if they have no prior Low-Income Housing Tax Credit (LIHTC) experience.

WHAT YOU CAN EXPECT FROM THIS TRAINING

Managing an LIHTC property goes well beyond leasing apartments, collecting rent, and completing work orders.

There are additional obligations under Section 42 that must be met to in order to safeguard the owner's tax credits. These requirements can include processing the application, determining tenant eligibility, charging the appropriate rents, and understanding the agency's reporting and monitoring requirements, among others.

In this 4-hour presentation, our trainer will review LIHTC fundamentals to assist owners and agents have an understanding of the requirements of managing an LIHTC project.

Topics to be discussed during this training, include, but are not limited to:

• Program Introduction
• Application Process (Applications & Screening, Household Size & Verification Requirements)
• Student Eligibility
• Determining Annual Income (Income Eligibility, Method of Annual Income Determination, Earned & Unearned Income & Income Inclusions and Exclusions)
• Determining Asset Income (Asset Inclusions & Exclusions, Personal Property, Asset Threshold, Actual & Imputing Asset Income)
• Certification & Leasing Requirements
• Income & Rent Limits
• Agency Reporting & Monitoring Requirements