The IRS affirms that compliance is based on a property owner’s ability to prove due diligence. Preferred Compliance Solutions only staffs nationally certified and recognized LIHTC and other affordable housing compliance professionals. An audit can be intimidating and intense for your property staff. Because you deserve to pass all audits, we developed a program that offers reliable support in preparation for and throughout an audit. We are dedicated partners in protecting your investment.
Full and Exceptional Support
Our compliance professionals work very closely with your property staff, providing exceptional support and guiding the way. We can review files and state-required reports, and prepare documents and reports prior to an audit. But best of all, we make ourselves available to provide compliance guidance and help prepare responses to prove owner due diligence. Over the years, we've helped thousands of owners stay free from 8823s and other noncompliance findings. We’ll do the same for you.
We’re on Your Side
- We review and help prepare documents and reports for an audit
- File review in preparation for any audit
- In-person support on the day of audit
- Audit response assistance and submission of response
What is a state LIHTC or affordable housing audit?
What can I expect from a compliance audit?
How do I prepare for a compliance audit?
1. Make sure the property is in good physical condition. Address any potential safety or health-related problems on the property, including potholes, trash and broken glass, damaged playground equipment or sharp edges, water damage, and damaged or missing window screens.
2. Review files and keep all forms, reports, and files up to date with proper signatures, dates, and supporting documents. A third-party affordable housing compliance firm is a great resource to complete fast and detailed review of files.
3. Put operation procedures in writing and see that property management staff collectively understand and follow the procedures.
4. Keep important regulations and covenant documents in one place for simple access and easy reference.