Preferred Compliance Solutions - Guiding the Way
e-File Web Access
About our Services Compliance Manual Compliance screening and
Pre-Approvals
On-going advice in compliance
regulatry issues
Other Services
Review of Management Compliance
Programs
Tenant File Review ComplianceTraining Review of Reports  


About our services
In today's complex affordable housing market, selecting the right advisory firm to monitor compliance program regulations can be puzzling even for the most savvy owners and investors. Preferred Compliance Solutions has set themselves apart from other consulting companies by having on staff, Housing Credit Certified Professionals®, National Compliance Pro-Executives®, Certified Property Managers® and Candidates. These are highly trained professionals who have completed a comprehensive program of study through the National Affordable Housing Management Association, the Institute of Real Estate Management of the National Association of Realtors, and others.

By retaining Preferred Compliance Solutions, you can reap the financial benefits of investment property ownership without the headaches associated with owning and maintaining compliance with affordable housing regulations. Your property will be monitored by someone who is trained in all aspects of affordable housing management and has your best interests in mind.

It is our hope that you will turn to Preferred Compliance Solutions to monitor your affordable housing real estate holdings. You will have a proven leader in the affordable housing management field working to protect your asset by ensuring compliance with Federal, State and/or local regulations.

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Review of Management Compliance Programs
We will conduct a thorough quarterly review of the management compliance program at your place of operation. We will review policies, procedures, do continual training, help identify personnel potential for advancement, and help with development of team management - all of which reduce costly turnover of employees and improve performance in ensuring compliance.

Compliance Manual
More and more auditors are asking for written company policies and procedures that ensure compliance. After a review of management compliance programs, our compliance professionals will create a detailed compliance manual to be used as a compliance guide by your property staff. This will also serve as your company's written policies and procedures.

Tenant File Review
A thorough review of 100% of the property's annual recertifications (ARs) completed since previous visit and 20% of initial certifications (ICs) will be conducted by our compliance professionals at your property's location once each quarter in order to identify non-compliance to assist property staff and to prepare and eliminate questions at time of a Management Review conducted by the IRS, State, Monitoring Agency or other monitoring agent. Once notification of scheduled date is received, in prepara2tion for the Annual Management Review, our compliance professionals will review all major non-compliance findings from previous Tenant File Review to ensure they have been properly corrected.

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Non-Compliance Findings Report from Tenant File Review
We will provide owner or owner's representative detailed reports of non-compliance findings. Report will be created in a format that is easy to read and follow when correcting findings.

Compliance Screening and Pre-Approvals
Our compliance professionals will review each application to ensure household's qualification with program requirements and that this has been properly documented prior to issuing approval for move in. In addition, all lease-up properties could submit a full copy of the first occupant files (after move-in) for our compliance professionals to review. Once the files are reviewed and in compliance with program requirements, these will be forwarded to owner or owner's representative for storage as required per your regulatory agreement.

Compliance Training
Our trainers will come to your designated location a minimum of twice a year in order to provide your property staff with the time and attention they need. Training will always be adapted to your state's and your company's interpretation, policies and procedures of the Low-Income Housing Tax Credit program and will be presented as basic, intermediate, and/or advance training.

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On-going advice in compliance regulatory issues
Our trained compliance professionals will help your designated representative to ensure compliance with regulatory issues on an ongoing basis by answering their questions and providing advice over the phone.

Review of Reports
Our compliance professionals will review compliance reports for accuracy, request corrections from the properties, and submit report to proper agency once fully and properly completed.

Other Services

  • Review corrections made to tenants' file as a result of previous reviews.
  • Ensure compliance with the Land Use Restriction Agreements.
  • Review reports prior to submitting to Federal, State and/or county agencies.
  • Written reports to owner and property manager of tenants' file review.
  • Review of tenant files in prepara2tion for Federal, State and/or local regulatory agencies' audit.
  • Represent owner at Federal, State and/or local regulatory agencies' audit.
  • Maintain an on-going record keeping of reviews, reports and/or changes related to ensuring compliance with federal, State and/or local regulations.
  • Update property manager of changes to the area median income and utility allowances.
  • All property inspections by Housing Credit Certified Professionals, National Compliance Pro-Executives and/or Certified Property Managers®.
  • Maintain up-to-date information on applicable Landlord/Tenant legislation and regulations.
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