LIHTC compliance is a complicated industry and a stressful one at that. You need the best tools the industry can provide to ensure your LIHTC property is successfully compliant with federal and state LIHTC rules. Preferred Compliance Solutions announces a new rent and income calculator—the Next Generation Rent and Income Calculator—as a free tool to keep your property running smoothly with confidence.
Why the NextGen Calculator?
The LIHTC industry has a few rent and income calculators available, but these calculators are limited in function and accessibility. Preferred Compliance Solutions’ interest in developing a rent and income calculator originated from years of working with current industry tools and assessing how the tools could be more efficient, user-friendly, and comprehensive.
The result is a rent and income calculator that will enhance the LIHTC industry. Here’s several examples why.
Where can you find non-metro rent and income limits for a property located in a designated rural area? In the past, leasing offices were forced to scout for information spanning several websites, but the NextGen Calculator reflects the non-metro limits for you.
What income limit should you use for a placed-in-service property within a 45-day grace period after HUD publishes the limits? The NextGen Calculator delivers an option to reflect the most advantageous income limit to set for your property.
Have trouble finding accurate HUD HOME income and rent limits? The NextGen Calculator displays the right information in an easy-to-read rent and income sheet immediately available to print.
In addition to computing HUD HOME limits, the NextGen Calculator also determines LIHTC rent and income limits, Section 8 income limits, LIHTC income averaging, and LIHTC rent limits with utility allowance reductions all on one rent and income sheet.
No more wasted time searching through multiple websites. The NextGen Calculator provides all the information you need.
What Features Does the NextGen Calculator Offer?
With the NextGen Calculator, you can:
- Create and print property specific rent and income sheets (RIS)
- Chart recent AMGI trends
- Compare the Fair Market Rate (FMR) with HOME Low and High Rents
- Calculate the best rent and income limits in designated rural areas
- Discover optimal income limits for your recent placed-in-service property
- Display HOME rent and income limits
- Compute applicable limits for Income Averaging (IA) set-asides
- And much more