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Insider's Pop Quiz!
Mar 27, 2012
Q: At an LIHTC site, an owner may charge an application fee to cover the costs involved with processing a household's application for an LIHTC unit. True or false?
A: True. The IRS has said that a one-time fee is not rent. An owner may charge an application fee to cover the costs involved with processing an application to live in an LIHTC unit.
A: True. The IRS has said that a one-time fee is not rent. An owner may charge an application fee to cover the costs involved with processing an application to live in an LIHTC unit.
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