Rental Housing ComplianceOur Compliance regional teams monitor a property’s occupancy requirements under the federal Housing Tax Credit Program, Tax Exempt Bonds, HUD regulations and Virginia Housing specific requirements. This includes a review of property records and the physical condition of all monitored properties.
We strongly encourage owners to review all documentation such as Internal Revenue Code Section 42 and Section 142, the Extended Use Agreement (EUA), Loan Agreement and any other statutory and regulatory requirements for their property.
See our Compliance Forms and Documents page to view:
- Conventional Rental Loan Forms and Documents
- Federal Housing Credit Program Compliance Forms and Guidelines
Additional Tools and Resources
Tenant Certification Reporting System
HDS NextGen is the online tenant compliance monitoring system we use to track compliance requirements in our rental portfolio. Property managers must update all tenant information regularly into the system, including activities such as move-in/move-out, transfers, required recertifications and change in unit designation.
Click below to register for an HDS NextGen account.
Note: you must use either Google Chrome or Microsoft Edge when using HDS NextGen.
Video Resources on HDS NextGen
- Logging In and Navigation
- Adding a Unit
- Creating a Tenant Income Certification (TIC)
- Move-in and Initial Certifications
- Unit Transfer Certification
Recognizing the impact that COVID-19 has had across the Commonwealth and on our business partners, Compliance & Asset Management will suspend the collection of Tax Credit monitoring fees for the 2021 reporting year. The collection of fees will resume for the 2022 Compliance Monitoring review period with fee collections in 2023.
The Project Information Report (PIR) and the Owner Certification report will be sent to the primary management and owner contacts the first week of April 2022. The deadline to submit all completed and executed owner reports is June 1, 2022. Immediately report all changes in property ownership, management agent, and on-site property contacts to your assigned Compliance Officer, so we can update our records before the packets are distributed. Send questions to Compliance-AssetManagement@VirginiaHousing.com
Through the Housing Credits Qualified Allocation Plan (QAP), Virginia Housing partners with Referring Agents to provide a leasing preference within the Virginia Housing Portfolio to persons with disabilities, known as the Target Population. The Referring Agent determines eligibility of the Target Population and refers them to properties in our portfolio. For more information on property requirements, refer to the Target Population Leasing Preference document linked below.
Housing Credit property owners must include the cost of all resident-paid utilities, excluding phone, cable TV and internet, in the gross rent charged to residents. To do this, owners must obtain a utility cost allowance for Housing Credit units. The utility allowance must be deducted from the applicable Maximum Tax Credit Rent Limit to determine the maximum rent that can be paid by a resident.
External Training Resources
- Liz Bramlet Consulting, LLC
National Center for Housing Management (NCHM)
Ross Business Development
A.J. Johnson Consulting
Novogradac & Company LLP
Nan McKay & Associates
- Liz Bramlet Consulting, LLC