Connect with us: 855-NAHC 123
Are you a real estate investor looking into affordable housing as an asset class and needing an affordable housing consultant to help you make sure your investments are compliant and you don't encounter any low-income housing tax credit issues? At NAH Consultants, we offer consulting for affordable housing projects.
You can count on our NAH Consultants team to serve as an affordable housing investor consultant, no matter the stage you are at in converting any single or multi-family homes you offer into income-contingent housing in NC. Our US consultants regularly work with developers and affordable housing investors who must work with governmental entities that manage Low Income Housing Tax Credit (LIHTC) tax credits and help our clients with tax compliance services and also financial statement audits.
Our Greensboro, NC housing compliance experts have LITHC certification, among many others popular in the affordable housing industry. Our Section 8 consultants can help you with these and many other aspects of your affordable housing-development project, which we’ve outlined below.
Qualifying for a Low Income Housing Tax Credit
The number of developers looking to qualify for the LIHTC is high. These tax credits are awarded by the state where your affordable rental housing project will be located. When evaluating LIHTC applications, state reviewers take into account:
- Where you intend for your affordable housing program project to be located: Will your affordable housing project be in an opportunity zone as outlined under sections 1400Z-1 and 1500Z-2 of the Tax Cuts and Jobs Act of the Internal Revenue Code, or is it part of an inclusionary zoning, revitalization, redevelopment, or preservation area?
- Who you say you plan to be your renter: Is your plan for your community development to offer lower income, middle income, or mixed-income housing for seniors, to those at risk of homelessness, with accessibility issues, or other special needs or vulnerable populations?
- The median income level of your prospective tenants: For example, are you looking to rent your public housing to occupants who are very low-income or moderate-income?
Since eligibility for LIHTC is highly competitive, consulting affordable housing experts like NAH Consultants in Greensboro, NC before applying to discuss your urban housing or rural development plans may make a difference in terms of whether your application process is successful.
Affordable Housing Compliance Audits in NC
Once your affordable housing project is approved by the U.S. Department of Housing and Urban Development (HUD), the U.S. Department of Agriculture (USDA), Rural Development (RD), or another program run by federal agencies or their corresponding state agencies, you can expect to regularly undergo compliance audits.
Our compliance audit services at NAH Consultants include:
- Creating, checking for, and updating required documents on file with HUD and rural housing authorities
- Performing LIHTC and Section 8 tenant file reviews
- Drafting in-house policies and procedures manuals and implementing affordable housing industry workflow assessment protocols
- Aiding with annual recertifications
Additionally, it’s important to note that each affordable housing consultant on our NAH Consultants team is experienced in working with a housing developer with tenants receiving:
- Housing trust fund
- Lotteries
- Housing choice voucher
Each of the above-referenced areas that our team's affordable housing consultants can help with can ensure your income-contingent housing project continues to run smoothly and thus generate income on housing in North Carolina for years to come.
Infrastructure Advisory Services
If you're planning to expand your operations into infrastructure projects, then you can count on our NAH Consultants consulting affordable housing team to know which qualifications certain governmental income-based housing programs require and how to build your credentials to be eligible for them. This expertise that an affordable housing investor consultant provides can give you a competitive edge over developers looking to land the same infrastructure project.
Financial Statement Audits and Tax Compliance Checks
As an investor in federally subsidized housing projects in North Carolina, you can expect a lot of government oversight of your finances to ensure proper accounting and tax compliance. One of the key consulting affordable housing services that our NAH Consultants team offers is financial statements audits.
This service minimizes the chances of you falling on the wrong side of the Internal Revenue Service (IRS) or the North Carolina Department of Revenue (NCDOR), the governmental entities that manage LIHTC tax credits and other aspects of affordable housing projects like the NC Fair Housing Act.
Why You Should Consider Consulting Affordable Housing With NAH Consultants
As an affordable housing investor, your goal is likely to continue growing your portfolio of single-family and multifamily housing for low-income families and other qualifying renters for these federal housing assistance programs. You likely don't want to do anything that gets you in hot water with tax authorities or those government agencies managing these affordable homes programs.
That's why it's worth your time and money to have a NAH Consultants affordable housing investor consultant to help you navigate the often complex maze that is affordable housing programs. It will save you a lot of worries and potential financial or tax liability and associated legal exposure and improve your chances of being able to rely on affordable housing for income in the future.
Reach out to us to learn more about NAH Consultants and our affordable housing consulting services, including tenant file review and compliance monitoring, income tax credits auditing, financial audits, housing policy development, and more associated with your involvement in offering low-income apartments or another type of dwelling. We have years of experience with North Carolina municipalities, county, state, and also federal housing authority officials. Our Section 8 consulting firm is eager to assist you with your public housing program consulting needs here in North Carolina.