How to Determine Allowable Fees at LIHTC Sites
With widespread unemployment and reduced income among renters during the coronavirus pandemic, your site might be experiencing a decline in rental income. As a result, you may be considering charging fees for certain amenities and services to offset the revenue loss and to help cover operating expenses.
Tax credit regulations restrict what you can charge residents on top of their rent, and there are penalties for sites that go over the maximum rent. It’s important that you have a clear understanding of what types of fees are allowed and what types of restrictions apply.