With our deep expertise in lease-up and ongoing affordable New York apartments compliance management, our team ensures a systematic approach to managing affordable housing properties and maintaining compliance. Our in-house compliance team is thoroughly knowledgeable about the Low Income Housing Tax Credit (LIHTC) program and all applicable state and federal compliance regulations and trained in best practice techniques for finding the most qualified residents for our Tax Credit properties.
We monitor all lease expiration dates in-house to centralize data, as well as to provide a secondary check that recertification notices are sent 120 days prior to the move-in anniversary date. This process allows enough time for residents and our management team to complete recertification on or ahead of schedule. Additionally, the documentation of these actions demonstrates due diligence on the property’s behalf to comply with all housing standards.
Furthermore, we ensure that each “80/20” affordable housing property is in compliance with mandated eligibility criteria, income guidelines, advertising practices, and lottery system requirements to ensure fair and equitable distribution of housing to eligible applicants.
Additional services we offer include:
- New Development Operating Expense Projections
- Budget Preparation and Implementation
- Customized Financial Management and Administrative Services
- Rent Collection Services
- Service Contract Analysis and Vendor Management
- Staff Training and Development to Increase Efficiency
- Energy Aggregation Savings and Energy Assessments through FS Energy
- Amenity and Lifestyle Management through Abigail Michaels Concierge
- Capital Improvement and Oversight through FS Project Management
Whether your portfolio consists of one or multiple properties, you can trust FirstService Residential to deliver quality services designed to meet your needs to help maximize occupancy, streamline operations and enhance the return on your investment. Contact FirstService Residential to learn more.
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