Application Fees Application fees may be charged for the actual costs of Checking applicants income Checking applicants credit history Checking criminal background Checking landlord references ID: 704576
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Slide1
Fees and The
LIHTC ProgramSlide2
Application Fees
Application fees may be charged for the
actual costs
of:Checking applicant’s incomeChecking applicant’s credit historyChecking criminal background Checking landlord referencesSlide3
Treasury Regulation 1.42-11
“Charges to low-income tenant for services that are not optional generally must be included in gross rent”
A service is “optional” when it is not a condition of occupancy and there is a reasonable alternative
Optional fees include pet fees, laundry room (in the form of coin operated machines), garage and storage feesSlide4
Non-Optional Fees
Non-optional fees are fees or services required as a condition of occupancy
Non-optional fees which are not refundable must be included in the gross rent
Requiring renters insurance Month to month rental feesFee for system that allows resident to speak to and/or allow entry of guests