Internal Revenue Code (IRC) dictates a minimum of every three (3) years. However, depending on the specific property, MBOH might visit the property more often.
Individuals responsible for qualifying tenants and verifying compliance must be certified in housing tax credit (HTC) compliance by one of the nationally recognized HTC compliance training entities. Property managers and associated property management company personnel must successfully complete a nationally recognized certification course. The manager for a new HTC property must be trained and certified before the property is placed in service. If not already certified, managers hired for existing HTC properties must be certified within their first year of employment.