The monitoring requirements for the Multifamily Tax-Exempt Bond financed properties are set forth in the Asset Oversight, Compliance and Security Agreement and the Regulatory Agreement included in the bond transaction documents. Monitoring requirements for the Texas Housing Impact Fund properties are set forth in the loan policies and agreements.
Explore ResourcesAsset Oversight & Compliance
TSAHC conducts annual reviews for properties financed through TSAHC programs to ensure program requirements are met and quality housing and resident services are proved to residents.
Asset Oversight That Protects Residents and Sustains Property Value
Rental multifamily properties financed through TSAHC’s tax-exempt bond or Texas Housing Impact Fund programs undergo physical inspections and management reviews performed by TSAHC Multifamily Oversight staff. Inspections and a review of the property’s management practices are performed at least once each calendar year. In addition, staff monitors the monthly financial statements and annual audited financial statements of properties in our Texas Housing Impact Fund and bond portfolios, and may administer requests by the properties for withdrawals from their Replacement Reserve Accounts.
When performing inspections and reviews, TSAHC staff looks at the property from the perspectives of the residents, managers, and owners. TSAHC staff prepares and submits an annual report for each property to property owners, managers, and other stakeholders and is also available online.
Why Asset Oversight Matters
Through inspections, reviews, and ongoing monitoring, TSAHC helps protect residents, support effective property management, and maintain the long-term value of financed properties.
Who Asset Oversight Supports
Asset Oversight supports residents, property managers, and property owners by ensuring properties meet compliance standards and operate effectively.Contact Us
Benefits to Residents
Residents benefit when management remedies concerns identified in Asset Oversight reviews. These may be issues with health and safety; improvements to units, landscaping or amenities; or initiation or continuation of crime prevention programs.
Benefits to Managers
We inform management of current industry trends and changes in laws that affect staff operations. We are also able to make suggestions on how to improve property management, including marketing and resident retention programs.
Benefits to Owners
Owners benefit by being notified of any possible liabilities or management deficiencies that a TSAHC reviewer might observe. Owners also get a third party’s perspective of the appearance of their property. Ultimately, improvements made as a result of this yearly review have a positive effect on the value of the property.
Structured Monitoring and Reporting for Lasting Compliance
Compliance monitoring ensures that properties financed through the issuance of multifamily or rental housing tax-exempt bonds adhere to IRS requirements. TSAHC’s Multifamily Oversight staff monitors on a monthly basis whether property owners and managers are providing the required number of affordable units to income-eligible households and that quality resident services are being provided. TSAHC staff prepares and submits an annual report for each property to property owners, managers, and other stakeholders and is also available online.
TSAHC offers an online reporting system that allows each property manager to complete its monthly compliance reporting online.
How compliance is managed
TSAHC monitors properties monthly and provides annual reporting to ensure compliance with program requirements and maintain quality standards.
Asset Oversight and Compliance support
TSAHC provides tools and reporting systems to help property managers meet compliance requirements and maintain program standards.Contact Us
Is unemployment annualized when calculating annual household income?
Yes.
Does a household made up of Full Time Students qualify for the program?
Maybe. If the household is made up of the following then the household qualifies:
- Dependent with Child
- Married filing Joint Tax Return
- Previously in Foster Care system
- Receiving TANF assistance
- Enrolled in a Workforce Program
If the household does not meet one of the above qualifications then the household is not eligible.
Can documents be backdated?
No. Documents must always be dated the actual date of signature.
Does page 3 of the Income Certification have to disclose ethnicity/disability/elderly status?
No. Residents may opt out of disclosing any/all of that information.
Do assets need to be verified for Tax-Exempt Bond properties?
At initial certification and every third year, all assets must be documented. Owners are required to obtain a minimum of one statement that reflects the current balance of banking/financial accounts. See TSAHC Compliance Manual Section 2.6 (D).
Where can I find the Rent and Income limits for my property?
Properties are required to maintain resident selection criteria that provide the current income and rent limits. However, you may also contact Multifamily Oversight staff to receive a copy of the Rent and Income limits specific to your property.
Where can I find forms used during the Income Certification process?
The Income Certification form and Income Certification instructions can be found in the Resources for Property Managers page. You may also contact Multifamily Oversight staff to receive a copy of the Rent and Income limits specific to your property.
Download useful reports, manuals, guidelines, forms, and policies
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