Lease Up Package
When acquiring a property, it’s crucial to verify that all existing households meet Section 42 Low-Income Housing Tax Credit (LIHTC) eligibility requirements within a tight timeframe. At MLCM, we evaluate the eligibility of all households at the time of acquisition to ensure compliance with program regulations.
Our thorough assessment checks that every household aligns with the latest requirements, helping you avoid potential issues with tax credit eligibility. If any units are occupied by ineligible households, we’ll guide you through the corrective measures needed to secure your tax credits.
Services:
Custom Property Fact Sheets
Get a clear overview of site-specific requirements with our detailed Property Fact Sheets. We review your regulatory documents and deliver a customized report that helps you navigate compliance effortlessly.
Tailored Unit Tiering Charts and Compliance Tools
Streamline your operations with customized unit tiering charts, file review checklists, income limit charts, and Utility Allowance (UA) charts. Our site-specific tools are designed to ensure you meet all regulatory requirements with ease.
Forms
Access the exact forms you need with our State Agency-Specific Applicant and Tenant File Forms. We provide a variety of documentation to keep you in compliance with state regulations, simplifying your file management.
Expert File Reviews
Choose from our targeted review options: We offer an Income Eligibility Review to verify household qualification or a Full Applicant File Review, covering everything from the application to move-in. Our thorough reviews ensure compliance and accuracy at every step.
Resources
Lease-Up Assistance Frequently Asked Questions
Use your property management software, Microsoft Excel, or a comparable tool to create a spreadsheet that lists every unit in the property along with its designated set-aside, ensuring alignment with your legal documents – this will be your Tiering Map. Refer to the Tiering Map any time a certification is completed for an applicant to ensure you are matching the intended set-aside for the unit with the income of the applicant. Additional information can be tracked on the Tiering Map to show occupied vs. available units, as well as indicating which units offer accessible features. Coming back to this document every time you certify an applicant will help you track and maintain the set-asides required for the property.
