Low Income Housing Tax Credit Program Lease Addendum

  1. Explanation of Tax Credit Program

    is/are to be operated in accordance with the requirements of the Low Income Housing Tax Credit ("Tax Credit") Program governed under Section 42 of the Internal Revenue Code. Tenant's rights are subject to the eligibility requirements under this program. Tenant must cooperate with management in certifying their eligibility for this program. Continued occupancy is subject to this eligibility.

  2. Occupants

    List occupants and their relationship to head of the household. Only these household members will be permitted to occupy the unit. Management must be immediately notified if changes to the household should occur. Occupancy by these additional household members is subject to eligibility to the Tax Credit Program. Eligibility MUST be certified PRIOR to that additional household member taking occupancy.

  3. Income Eligibility and Certification

    Tenant has been certified as being income and Program eligible for Tax Credit Program and has signed Income Certification Form attesting to his/her income eligibility.

    Management must be immediately notified if changes to the current household status occur. This includes, but is not limited to, changes in:

    • Household members,
    • Income or assets,
    • Full-time student status,
    • Need for live-in care attendant, and
    • Federal subsidized rental assistance

    Tenant must be initially certified for eligibility for the Tax Credit Program and annually thereafter. Upon request, Tenant must complete the certification process. This includes an interview with the management to determine continued Program eligibility, verification of all income, asset and other eligibility information and signed a new income Certification Form. It is the Tenant's responsibility to provide all necessary information so that management may perform this task. Occupancy is subject to the continuing eligibility under the Tax Credit Program requirements. The household's next annual re-certification must be completed by . Management will contact the Tenant up to 90 days prior to the annual certification date to begin processing the necessary paperwork. It will be the responsibility of the Tenant to fully cooperate and provide all necessary information to expedite this process. Failure to do either may result in the non-renewal of the Tenant's lease. Once the annual re-certification eligibility requirements are met, the Tenant will be required to sign a 12-month lease renewal. Therefore, any certified Tax Credit unit may not remain on a month-to-month lease.

  4. Excess Rents

    If management determines that the unit has become ineligible for the Tax Credit Program due to the Tenant paying more than the maximum amount of rent including utilities as governed by this program, management shall pay the tenant the amount of excess. It will be management's responsibility to use its best efforts to locate the tenant for this purpose.

  5. Income Increases

    Tenant's income is allowed to increase up to 140% of the current applicable income limit and still remain income eligible. If Tenant's income increases above 140% of the maximum allowable income as governed by the Tax Credit Program, management may non-renew tenant's lease with a 30-day notice to vacate.

  6. Initial Household Change

    If at any time the status of the Initial Certification Household changes, the household must complete another Initial Certification at the current area median income level, as governed by the Tax Credit Program Therefore,

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  1. the 140% increase in income may not be considered.

  2. Notice of Vacancy

    Tenant must notify management in writing of his/her intention to vacate the premises with a notice. These notices with are accepted and posted on or before the first day of each month. No exceptions.

  3. Full-Time Student Status

    Program requirements state that full-time students must meet certain eligibility requirements to be program qualified. Therefore, if any member of the household becomes a full-time student during the lease period or the current full-time student status changes, the tenant must notify management. At such time, the Tenant's continuing compliance to the Program requirements must be reviewed. If it is determined that the Tenant no longer qualifies for the program-qualified unit, management may non-renew the Tenant's lease with a 30-day notice to vacate.

  4. Unit Transfers

    If a Tenant requests a unit transfer, the Tenant must complete the initial certification process. All income, asset and other eligibility requirements will need to be reviewed for Program eligibility. All paperwork must be completed and appropriate paperwork signed prior to the transfer-taking place. If Tenant does not meet the initial eligibility requirements of the Program, the unit transfer will be denied.



(Resident) Date
(Owner / Agent) Date
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