We had a Rent Increases for a Tax Credit Property.  We entered the Rent Amounts and updated all certs but the Tax Credit Cert still shows the old rent.

A:   Our software will not update the Tax Credit Cert automatically.  However, you can open the cert and toggle any field to update the rent amount.  Then you should be able to print the cert with the new rents.   

When entering a tax credit cert I only have Market listed as a set aside.  

A:   In the property setup you checked to lock your units by set aside, then when you were entering your units you did not select a set aside for the default.  To correct this, click on the Unit button - find the unit and double click it.  Scroll toward the bottom of the screen where it says Tax Credit - Lock Units by Set Aside.  Each set aside you added should be listed on the left side of the screen showing available.  Click on the Set Aside that will be used by this unit, then click Add.  This will take the Set Aside to the right side of the screen showing that this Set Aside is used by this property.  Now open the cert and input the correct set aside.  

The wrong date was entered at Move Out.  

A:   Click on the word Property from the Menu Bar, then click Former Tenant List.  Find the tenant on the listing and double click them. You will need to edit the lease and update the move out date. Then save.  

Is the Project Entry Date or the Cert Date used for the qualifying income date?

A:   The Project Entry Date is used for the Qualifying Income Date.

I moved a tenant out by mistake, how can I correct it?   

A:   Click on the word Property (next to File).  Select Former Tenant List.  Double click on the tenant you moved out.  There will be an Undo Move out Button at the bottom.  Click that and it will take the person back to active status and put them back on the tenant list.

Take off the check Mailbox item - with MINC it doesn't need to be there anymore.

The Max Tax Credit Rent is incorrect.

1. Is the 50% (Very Low) income limit entered for the time period of the cert effective date.
2. Put check in box "Rent based on bedroom".
3. Is the set aside correct?
4. Does the tenant receive subsidy?

Property Tax Credit And Home Compliance

    1.   A unit is listed vacant on the report when it is not.

a.      Is the lease current for the tenant?

b.      Does the lease and cert have the same unit listed?

c.      What is the effective date of the cert and the report?

Tax Credit Reports

The following table gives a description of each report that comes with The Compliance Administrator™ with the exception of each state’s annual report.  The state report of your choice comes with The Compliance Administrator™.  Additional state reports can be purchased.  If you would like to purchase additional state reports, please call Classic at (770) 729-0007.