Follow Five Tips When Calculating Rents for Low-Income Units
When charging restricted rents for low-income units at your tax credit site, it’s important to calculate the amount of each household’s rent properly. Managers too often make mistakes in their calculations and this can lead to big problems.
Charging more than the maximum rent for a low-income unit could put the owner’s tax credits in jeopardy. And although charging less than the maximum won’t lead to noncompliance, it will cost the owner rent revenue and leave you with some explaining to do.