Ongoing Compliance Support in Boca Raton

What ongoing compliance support covers

Getting the Live Local tax break approved one time does not settle the matter. The Florida Housing Finance Corporation has to certify your property again every year, and the DR-504AFH must land with the county property appraiser by March 1. Between those dates, the affordable units have to stay leased to qualified tenants at rents within the limit. A single missed lease or an out-of-date income form can knock a unit out of the exemption.

Our ongoing compliance support is the work that happens between filings. We keep a calendar, check new leases and turnovers against the current limits, and flag problems while there is still time to fix them. Every review goes into your file with copies and screenshots, so you can see what we found and what we did.

This service fits owners and managers who already have the exemption, or are about to get it, and do not want a scramble every December.

What we do for you through the year

A calendar of every deadline

We map out each key date for your property, starting with the FHFC certification window and running through the March 1 property appraiser filing. Reminders reach you well in advance, never in the final week.

Checks against new rent limits

Every year new income and rent limits are published. We hold your affordable unit rents up to the updated figures and tell you which units must change and the date they must change by.

Reviews at turnover

Whenever an affordable unit gets a new tenant, we go over the income papers and lease, before move-in when possible. That way the unit keeps counting toward the exemption.

Tracking the unit count

We keep a live tally of qualified units against the share the property must maintain. If a sale, an empty unit or a renewal that does not qualify brings you near the line, we tell you at once.

A file that shows the work

Every check is logged with a date, copies of the papers we reviewed and notes on any changes. When the appraiser or FHFC has a question, the answer is already in the folder.

Answers when questions come up

A new leasing hire, a refinance, a new rule out of Tallahassee. Call us or set up a video chat and you will get a straight answer.

Signs your property needs ongoing support

• Last year's renewal was a scramble

  If you were chasing tenant files in late December, the problem was not the filing. It was the eleven months before it.

• Your leasing team changed

  New people may never have been told which units carry the affordable set-aside, or that the limits moved this year. Non-qualifying leases tend to slip in during that stretch.

• Rents went up across the board

  A building-wide increase can push an affordable unit over its limit without anyone noticing until the review.

• You are not sure how many units qualify today

  If the count lives in someone's head or an old spreadsheet, it may not match what is actually leased.

• You own more than one property

  Separate certifications and separate filings each year add up fast. One calendar and one file per property keeps them straight.

How the work runs

1. 1

   Begin with a Live Local review

   By phone, on video or at our office, we look through your FHFC paperwork, past filings, rent roll and tenant files. You receive a written list of what is in good shape and what is not.

2. 2

   Close the gaps

   We deal first with missing income forms, leases above the limit or a unit count that does not add up. Each item is shown to you before and after, so the file tells the full story.

3. 3

   Build the calendar

   We enter each deadline and planned review for the property, then share the calendar with you and your manager.

4. 4

   Regular check-ins

   All year we look at turnovers, renewals and the new limits once they are released. Every check is recorded with copies and notes.

5. 5

   Pass along a finished file

   By the time annual recertification arrives, the papers are already collected. The FHFC filing and the DR-504AFH go much more smoothly as a result.

What moves the cost

There is no single price for ongoing support because properties differ a lot. We look at your rent roll and files first, then quote the work by phone in plain terms. The free savings estimate also shows what the exemption is worth to you, so you can weigh the cost against it.

Number of units and properties

More affordable units mean more leases and income files to check. Several properties mean several calendars and filings.

Turnover rate

A building with frequent move-outs needs more reviews during the year than one with long-term tenants.

Shape of your current records

Clean, complete tenant files take less time. Missing paperwork or old spreadsheets add work at the start.

How much your team handles

Some clients want us to review everything. Others have staff do the collecting and want us to check it. Both work, and the split changes the cost.