Follow Three Rules on Unit Size to Avoid Noncompliance

To comply with many key tax credit requirements, it is important to take into account unit size, that is, either a unit's square footage or its number of bedrooms. If you don't take unit size into account where required, your site is likely to fall into noncompliance, which could put the owner's tax credits in jeopardy. Many managers who have experience with other housing programs, but are new to the low income housing tax credit (LIHTC) program, make mistakes because they don't realize that unit size plays a key role in tax credit compliance.