LIHTC - Tax Credit Properties
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LIHTC - Tax Credit Properties - Description
This group is open to anyone involved in the ownership or management of LIHTC properties.
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Gerry Hunt on Saturday, August 13, 2011 6:47 pmYour company creates this lease agreement, although some states have lease that each company is required to use. Companies can add to this lease but it must contain everything the state requires.
The lease agreement that is used with unsubsidized residents is the same agreement used with Section 8 Housing voucher renters.
Renters on the Housing Voucher program are required to sign HUD’s Section 8 Tenancy Addendum to the lease. HUD reviews all leases prior to approval to ensure they comply with state and local law.
There is nothing in the Addendum that mentions physically handing the 3 day notice or a requirement to send the 10 day letter by certified mail.
If your company lease agreement doesn't stipulate the above requirements, then it is not necessary. That being said~~is it a good idea to physically hand the notice to the resident and send the 10day notice by certified mail~~yes!! You will have proof that the resident received it. However it is an added expense that many companies choose not to incur.
I hope this helps.