2. Tax Credit with Rental Assistance
Trainer: Lindsey Collins

3. Topics: Rental Assistance Overview
Current Rental Assistance Usability Initiative
Recording Rental Assistance on Certifications
Account Summary
Processing Payments
Reporting
Wrap Up - Questions

4. Overview of Rental Assistance
Rent Paid on Behalf of the Tenant to the Property Owner
Various Forms of Rental Assistance (Usually a Voucher)
RD & LIHTC Differentiate between Federal Rental Assistance and Other Forms of Rental Assistance.
Rental Assistance must be Reported to the Appropriate Reporting Agency (ex: SHFA for Tax Credit)

5. Terminology RA – Rental Assistance RAP – Rental Assistance Provider
TAR – Tenant Accounts Receivable
HAP – Housing Assistance Payment
LIHTC – Low Income Housing Tax Credit
MF – Multi-Family that report to TRACS through iMAX
RD – Rural Development Units subsidized by the USDA
Market Rent – Units owned by the Agency at a flat rent

6. Scenarios: Unit Based Subsidy + Unit Based Subsidy
Project Based Voucher + Tax Credit
Multi-Family + Tax Credit
Rural Development (USDA) + Tax Credit

7. Scenarios: Tenant Based Subsidy + Unit Based Subsidy
Housing Choice Voucher + Tax Credit
Housing Choice Voucher + USDA RD
Housing Choice Voucher + Market Rent

8. Housing: Recording Assistance LIHTC

9. Accounts tied to Household
Unit based + Tenant Based
TAR Account – Receivable from the Tenant
RAP Account – Receivable from the RA Provider
HAP Account – Payable to the Property Owner
Unit based + Unit Based

10. Accounts: (Ex: HCV in LIHTC)

11. Transactions: Primary Types

12. Payment: Processing
RA Provider can be the Housing Authority or Outside Agency
RA Provider is never the Owner of the property
A Housing Authority writes a HAP check to the Property Owner who Applies the Payment to the RAP Account
Client uses the Rental Assistance Payment Wizard to auto-apply internal HAP checks to RAP Accounts
Client CANNOT use RAP Payment wizard for 3rd Party RA

13. Rental Assistance Payment Wizard
*Select the
Rental Assistance Payment Wizard from the Home Search Menu

14. Rental Assistance Payment Wizard

15. Rental Assistance Payment Wizard

16. Rental Assistance Payment Wizard

17. Rental Assistance Payment Processing for Payments from Outside Entities
Start with a Customer Search from the 2+ Home Screen

18. Rental Assistance Payment Processing for Payments from Outside Entities

19. Rental Assistance Payment Processing for Payments from Outside Entities

20. Rental Assistance Payment Processing for Payments from Outside Entities

21. Rental Assistance Payment Processing for Payments from Outside Entities

22. Rental Assistance Payment Processing for Payments from Outside Entities
Click Finish to complete the payment wizard and post the payments to the selected accounts. Don’t forget to balance and deposit your cash drawer.

23. Reporting: TAR, RAP, Both
Unit Contract rent must be charged and collected each month
Unit Contract Rent = Tenant Rent + Rental Assistance
TC Rent Roll: shows total rent due monthly
TC Summary Rental Register: all rent charged and paid
Tenant Statements should show only Tenant Rent
Tenant Late fees assessed on Tenant Rent only

26. Configuration: Recommendations
1 Development per Property
1 Unit Based Subsidy Project attached to the development
Optionally may have one Market Rent Project on same dev
TAR Account Type MUST be different than RAP Account Type
TAR Rent Trans type SHOULD be different from RAP Rent Trans
Unit only has only Unit Based Projects assigned to them
S8 Unit MUST be the same as the Unit Based one

27. That’s a RAP: Review
Rental Assistance – Assistance paid on behalf of the tenant
Rental Assistance Provider – Agency paying a portion of rent
Rental Assistance Account – Receivable Due from the RAP
HAP Checks should be Applied to RAP Accounts Monthly