Fees and the LIHTC Program Overview
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Fees and The
LIHTC Program
Application Fees
Application fees may be charged for the
actual costs
of:
•
Checking applicant’s income
•
Checking applicant’s credit history
•
Checking criminal background
•
Checking landlord references
Treasury Regulation 1.42-11
“Charges to low-income tenant for services that are not
optional generally must be included in gross rent”
•
A service is “optional” when it is not a condition of occupancy
and there is a reasonable alternative
•
Optional fees include pet fees, laundry room (in the form of coin
operated machines), garage and storage fees
Non-Optional Fees
Non-optional fees are fees or services required as a
condition of occupancy
Non-optional fees which are not refundable must be
included in the gross rent
•
Requiring renters insurance
•
Month to month rental fees
•
Fee for system that allows resident to speak to and/or allow
entry of guests
Application fees may be charged for income, credit, background, and landlord checks. Treasury Regulation 1.42-11 discusses charges to low-income tenants for services. Learn about optional and non-optional fees related to occupancy.
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Presentation Transcript
Fees and The LIHTC Program
Application Fees Application fees may be charged for the actual costs of: Checking applicant s income Checking applicant s credit history Checking criminal background Checking landlord references
Treasury Regulation 1.42-11 Charges to low-income tenant for services that are not optional generally must be included in gross rent A service is optional when it is not a condition of occupancy and there is a reasonable alternative Optional fees include pet fees, laundry room (in the form of coin operated machines), garage and storage fees
Non-Optional Fees Non-optional fees are fees or services required as a condition of occupancy Non-optional fees which are not refundable must be included in the gross rent Requiring renters insurance Month to month rental fees Fee for system that allows resident to speak to and/or allow entry of guests
