The Most Reliable Compliance Monitoring

Our Approach

LIHTC and other affordable housing compliance does not have to draw away from other important management duties. Preferred Compliance Solutions offers an inexpensive ongoing compliance monitoring solution to ensure your property stays in compliance with state and federal compliance laws. Our program's priority is to protect your investment. From IRS regulation, federal HUD ADA compliance to state requirement changes, we work to keep your property in complete compliance.

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Affordable Housing Compliance Monitoring

Our detailed LIHTC and affordable housing compliance monitoring has helped thousands of affordable housing properties like yours stay in compliance. Preferred Compliance Solutions’ nationally recognized professionals are ready to customize our services to meet your property needs.

Customized Services

Continual monitoring for your property from the placed-in-service date through the extended-use period
Instant chat with compliance professionals
Thoughtful guidance and support for all affordable housing program changes
Review of policies and procedures to improve your property’s compliance program

Frequently Asked Questions

What is a Utility Allowance?

A Utility Allowance is an estimate of the cost of monthly utilities for each unit type in an affordable housing community. If a household pays utilities, such as electric, gas, or water, this amount must be deducted from the maximum gross rent. Total rent payments include both the cost to rent the unit minus a reasonable amount for paid utilities.

What are the risks of LIHTC and affordable housing noncompliance?

Noncompliance findings put the property owner at risk of losing valuable tax credits, repayment of program funds, or other repercussions that could affect future operation for the property.

What is Income Averaging and what are the benefits?

Income Averaging is a program that allows affordable housing owners the option to provide housing to households with incomes of up to 80 percent of the Area Median Gross Income (AMGI) and qualify them as affordable housing units.This is only possible if the average income and rent limits in the property remain at 60 percent or less of the AMGI. The advantage of Income Averaging grants property owners internal cross-subsidization within a property. This means the ability to qualify households with slightly higher incomes for affordable housing. These households with higher rents help offset household units with lower rents, thus stabilizing financial success for affordable housing communities.

What LIHTC compliance rules should I be most concerned about?

There are three primary areas in the LIHTC program that are vital to its success:
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1. Keep income limits (rent to income-qualified households) within federal and state guidelines.
2. Keep rents below the required limits.
3. Keep your property “decent, safe, sanitary, and in good repair.”

What are income limits?

An income limit in the affordable housing program is the maximum income amount a household can earn to qualify to receive housing assistance. Figures are determined by a city or county’s Area Median Gross Income (AMGI) and the number of persons who live in the household. The AMGI varies by city, county, and regulations set forth by the state housing agency.

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