HouseKeys

 Property Management Resource Page

Annual Compliance from the Property Owner & Manager’s Point of View

From the perspective of property managers and owners, the annual compliance cycle is often an extension of their ongoing responsibilities to maintain files, lease affordable units properly, and respond to oversight from city or county agencies. However, unlike typical tax credit file reviews, HouseKeys-administered certifications require specific formats, workflows, and timelines that differ from standard LIHTC practice.

Core Duties:

• Distribute and collect tenant-level recertification packets.

• Submit project-level documents (PSRs, rent rolls, policies) via Formstack

• Act as the primary point of contact for site coordination

• Ensure timely and accurate data collection, especially for aging or low-tech residents

HouseKeys-Compliant Documents to Submit:

1. Project Status Report (PSR) – Required in HouseKeys format only (not LIHTC versions)

2. Annual Audit Checklist – Indicates funding layers, policies, and site contacts

3. Rent Roll – Annotated with unit numbers, rent amounts, and subsidy types

4. Resident Selection Criteria – Screening standards, often called a Tenant Selection Plan (TSP)

5. Sample Lease & Application Forms

6. Utility Allowance Schedule – Must indicate source and method (e.g., CTCAC, actual usage)

7. Unit Inspection Checklist – Template or example form used during periodic inspections

8. Income & Rent Limit Charts – Current year charts used for compliance screening

What Not To Do:

• Do not submit generic tax credit PSRs or forms

• Do not ignore deadline communications

• Do not upload tenant personal documents via email

• Do not refer tenants directly to city staff for eligibility support

Tips for Success:

• Use HouseKeys’ Formstack link and templates only

• Assign a backup compliance contact in your submission

• Notify HouseKeys if your resident has language, technology, or capacity limitations

• Maintain a working relationship with the resident—even if HouseKeys performs the income review, you are still their landlord.

Resource Documents

Coming soon

Glossary of Key Terms

AMI – Area Median Income, used to calculate income eligibility by household size.

Audit Checklist – A compliance form used by HouseKeys to collect policies, sample forms, and utility schedules from property management.

Exhibit A-D – Required attachments to the tenant application that cover explanations, zero income status, or release of info.

Formstack – The online portal used by property managers to submit project-level documents.

HouseKeys – The third-party administrator that manages affordable housing compliance on behalf of cities.

MyHouseKeys.com – The secure participant portal used by tenants to upload their recertification documents.

PSR (Project Status Report) – A detailed spreadsheet listing all inclusionary or income-restricted units, their occupancy, rent, income tier, and other compliance data.

Tenant Selection Plan (TSP) – Property management’s written policy outlining how residents are screened and selected.

Utility Allowance – A deduction applied to affordable rents that accounts for tenant-paid utilities.