Five Rules to Keep Market-Rate Units in Compliance
It’s not unusual for tax credit sites to be mixed-income, consisting of both low-income and market-rate units. Market-rate units aren’t rent-restricted and may be rented to households of any income. Even so, certain provisions of the tax credit law apply to those units. If you don’t keep those units in compliance with the tax credit law, you’ll risk bringing your entire site into noncompliance.
Here are five rules to help keep your market-rate units in compliance. Follow these rules at every mixed-income tax credit site you manage.