FirstService helps owners and developers navigate complex eligibility requirements and legislation governing multifamily rental properties with an affordable housing component. Our portfolio of managed buildings includes a significant number of rental properties participating in the 80/20 Housing Program, 421a and 485x tax incentive programs, the housing lottery system, and HPD-administered housing programs.
Low-Income Housing Tax Credits (LIHTC)
Our in-house experts help buildings with an affordable housing component satisfy eligibility criteria for LIHTC programs. This includes income guidelines, advertising practices, lottery system requirements, and lease expiration and recertification. We monitor lease expiration dates and provide a secondary check that recertification notices have been sent 120 days in advance.421a and 485x tax exemptions
Our dedicated advisors have consulted on hundreds of new development projects to help builders capture valuable incentives and navigate complex eligibility requirements. Our experts help secure 421a and 485x tax exemptions and abatements by performing lease audits, implementing wages for construction teams, and finding qualified tenants to keep properties in compliance with eligibility criteria.Contact FirstService Residential today.
We simplify affordable housing compliance and certifications.
We help buildings with affordable housing components maintain compliance with New York City and Federal legislation, coordinate all showings, and finalize lottery leases.