Position Title: Income Verification Specialist
Location: India, Remote
Department: Property Management/Leasing
Position Type: Full-time
Work hours: 5.30 p.m to 2.30 a.m IST
Overview: The Income Verification Specialist is responsible for ensuring that all tenant income verifications and certifications comply with the Low-Income Housing Tax Credit (LIHTC) program regulations. This role requires a keen attention to detail, a thorough understanding of LIHTC guidelines, and experience in handling income verification for affordable housing properties.
Key Responsibilities:
Income Verification:
- Conduct detailed income verifications for prospective and current tenants to ensure compliance with LIHTC requirements.
- Collect and review all necessary documentation including pay stubs, tax returns, bank statements, and other relevant financial records.
- Calculate tenant income accurately to determine eligibility for LIHTC units.
Tenant Certification:
- Complete initial, annual, and interim recertifications for all tenants in LIHTC properties.
- Ensure all certifications are completed within required timeframes and are compliant with federal, state, and local regulations.
Compliance and Reporting:
- Maintain detailed and organized records of all income verifications and certifications.
- Prepare and submit required compliance reports to governing agencies in a timely manner.
- Assist in internal and external audits of LIHTC properties.
Collaboration:
- Work closely with property managers, leasing staff, and compliance teams to ensure smooth and efficient processing of income verifications.
- Stay updated on changes in LIHTC regulations and ensure compliance processes are adjusted accordingly.
Training and Development:
- Provide training and support to property management staff on income verification procedures and LIHTC compliance.
Qualifications:
Experience:
- Minimum of 2-3 years of experience in income verification or compliance for LIHTC properties.
- Proven track record in managing LIHTC compliance processes and audits.
Education:
- High school diploma or equivalent; Associate or Bachelor's degree in a related field preferred.
Skills:
- In-depth knowledge of LIHTC regulations and guidelines.
- Strong analytical and mathematical skills.
- Excellent organizational and record-keeping abilities.
- Proficiency in property management software and Microsoft Office Suite.
- Strong communication and interpersonal skills.
Certifications:
- Certifications such as Housing Credit Certified Professional (HCCP) or similar are highly desirable.
