TCS Initial Occupancy and Move-In Procedures

Question 1

Before a new LIHTC tenant moves in, the owner must complete which step first?

Accepted Answer

Verify and certify the household's income eligibility

Answer

Perform an annual recertification

Answer

Submit Form 8609 to the IRS

Answer

Obtain state agency pre-approval for each tenant

Question 2

How long before move-in may an income certification remain valid under standard LIHTC rules?

Accepted Answer

120 days

Answer

30 days

Answer

60 days

Answer

180 days

Question 3

A household consists of two adults and one child. For LIHTC income eligibility, who must be included in the household income calculation?

Accepted Answer

All household members including the child

Answer

Only the head of household

Answer

Both adults only

Answer

Only income-earning members

Question 4

Which item should be included in a new tenant move-in package at a LIHTC property?

Accepted Answer

The Tenant Income Certification signed by all adult household members

Answer

A copy of the owner's Form 8609

Answer

A list of all other tenants in the building

Answer

A copy of the partnership agreement

Question 5

What must an owner document when a unit is transferred from a non-LIHTC to a LIHTC unit?

Accepted Answer

A new income certification for the current occupant

Answer

Approval from the original financing lender

Answer

A state agency conversion permit

Answer

A new lease effective on the transfer date only

Question 6

A household applies and is found income-eligible. However, they cannot move in for 130 days due to a construction delay. What must the owner do?

Accepted Answer

Recertify the household's income with updated documentation

Answer

Use the original certification since it is close to the 120-day limit

Answer

Obtain a state agency extension waiver

Answer

Place the household on the waiting list as a new applicant