Compliance Management
At Royo Management, our Compliance Management service is a standalone service tailored to ensure that your tax credit properties adhere to all regulatory requirements with precision and diligence. Our approach combines meticulous attention to detail with proactive strategies to maintain compliance and maximize the benefits of tax credit programs.
Services Offered:
Annual Recertification Support
Our team provides comprehensive support for the annual recertification of LIHTC tenants, ensuring ongoing compliance with income eligibility requirements and program regulations.
Income Verification Services
We conduct thorough income verification checks for LIHTC applicants and tenants, including meticulous review of pay stubs, tax returns, and other income documentation.
Household Qualification Reviews
Our experts review household composition and other eligibility criteria to ensure compliance with LIHTC program guidelines, facilitating smooth tenant qualification processes.
Waitlist Management
We manage waitlists for LIHTC properties, ensuring fair and equitable access to available units while maintaining compliance with LIHTC occupancy requirements.
File Audits and Reviews
Our team conducts regular audits and reviews of tenant files to ensure accuracy, completeness, and compliance with LIHTC regulations, helping property owners/managers maintain program eligibility.
Reporting and Documentation
We assist with the preparation and submission of required reports and documentation to regulatory agencies, including LIHTC compliance forms and certifications, ensuring timely and accurate compliance reporting.
Training and Education Programs
We provide comprehensive training and educational resources for property staff on LIHTC program requirements, compliance procedures, and best practices, empowering them with the knowledge and skills needed for effective property management.
Regulatory Updates Monitoring
We monitor changes in LIHTC regulations and guidelines, proactively updating compliance procedures to ensure ongoing adherence to program requirements and minimize compliance risks.
Compliance Consulting Services
Our consulting services offer guidance to LIHTC property owners/managers on compliance matters, including assistance with resolving compliance issues, implementing corrective actions, and maintaining program eligibility, providing valuable support and expertise in navigating complex compliance challenges.
Our Approach
1. Thorough Regulatory Understanding:
- Our team consists of experts well-versed in tax credit regulations, including Low-Income Housing Tax Credit (LIHTC), Historic Tax Credit (HTC), and New Markets Tax Credit (NMTC).
- We stay updated on changes in regulations and guidelines to ensure that your properties remain in compliance at all times.
2. Customized Compliance Plans:
- We work closely with property owners and stakeholders to develop customized compliance plans tailored to the unique requirements of each tax credit program.
- Our plans outline specific strategies and actions to monitor income and rent restrictions, ensuring eligibility for tax credits.
3. Proactive Monitoring and Reporting
- We employ advanced monitoring tools and systems to track income levels, rent payments, and other compliance factors in real-time.
- Our team prepares and submits required reports to regulatory agencies accurately and promptly, minimizing the risk of non-compliance.
4. Regular Audits and Inspections:
- We conduct regular internal audits and inspections to assess compliance levels and identify any areas that require attention or improvement.
- Our proactive approach helps address potential issues before they escalate and ensures that your properties maintain eligibility for tax credits.
5. Ongoing Training and Support:
- We provide ongoing training and support to property staff, ensuring they understand their roles and responsibilities in maintaining compliance.
- Our team is available to answer questions, provide guidance, and offer assistance whenever needed, fostering a culture of compliance within your organization.
6. Continuous Improvement Initiatives:
- We continuously evaluate our compliance management processes and procedures to identify opportunities for improvement.
- Our goal is to streamline operations, enhance efficiency, and strengthen compliance measures to protect your investments and maximize returns.
With Royo Management's Compliance Management service, you can have confidence knowing that your tax credit properties are managed with the highest level of integrity and professionalism. Let us handle the complexities of compliance, so you can focus on achieving your property management goals with peace of mind.
©Copyright. All rights reserved.
We need your consent to load the translations
We use a third-party service to translate the website content that may collect data about your activity. Please review the details and accept the service to view the translations.