Affordable Housing Management Accounting

Managing affordable housing is a noble endeavor fraught with immense regulatory complexity. Programs like the Low-Income Housing Tax Credit (LIHTC), Section 8, and HUD-subsidized properties require a level of compliance and reporting that goes far beyond standard real estate accounting. We provide the specialized expertise needed to navigate this challenging environment.

Mastering Compliance and Reporting

The financial viability of affordable housing projects relies heavily on maintaining compliance with local, state, and federal agencies. A single accounting error can jeopardize tax credits or funding. Our team is deeply experienced in the specific regulatory frameworks governing affordable housing, ensuring that your properties remain compliant and financially sound.

Specialized Affordable Housing Services:

• LIHTC Compliance & Accounting: Meticulous tracking of eligible basis, qualified basis, and credit delivery. We ensure that all first-year fraction calculations and 15-year compliance period requirements are flawlessly documented.
• HUD & Agency Reporting: Preparation and submission of complex financial reports required by HUD, state housing finance agencies (HFAs), and syndicators, including REAC submissions and surplus cash calculations.
• Grant & Subsidy Accounting: Precise tracking and reconciliation of Housing Assistance Payments (HAP), tenant portions, and various government grants, ensuring all funds are properly allocated and audited.
• Cost Certification Support: Comprehensive accounting support during the development and stabilization phases to prepare for final cost certifications and the issuance of IRS Form 8609.
• Audit Readiness: Maintaining impeccable, transparent financial records to facilitate smooth annual audits by independent CPAs and regulatory bodies.

Protecting Your Mission and Your Margins

We understand that affordable housing developers and managers operate with tight margins and high stakes. By partnering with us, you safeguard your tax credits, satisfy your syndicators, and ensure that your focus can remain on providing quality housing to those who need it most.