ServicesResident Income Verification
Resident Income Verification in Plantation
Every unit you claim under the Live Local Act needs a resident whose income is documented, calculated correctly and compared to the right AMI limit. We build those files, check them line by line and keep one person on your project from first unit to last.
What resident income verification covers
The Live Local Act exemption rests on a simple test that is easy to get wrong in practice. At least 70 percent of a qualifying property's units must be rented to residents earning no more than 120 percent of area median income, and the size of the exemption on each unit depends on whether that resident falls at or below 80 percent or in the band between 80 and 120 percent. The property appraiser and FHFC take your numbers as written. If a file is thin, the unit can drop out of the count.
Our job is to turn a rent roll into a set of tenant income certifications that each stand on their own. That means gathering source documents, annualizing income the same way every time, applying the limit for the correct family size and recording the result so anyone reviewing it later can follow the math.
You deal with one coordinator the whole way. That person talks with your leasing staff, tracks which residents still owe paperwork and answers your questions without handing you off.
What the work includes
- Document collection checklist
- We give your leasing office a per-resident list: pay stubs, employer verification, benefit award letters, self-employment records and asset statements. Each item maps to a line on the certification, so nothing is collected without a reason.
- Income annualization
- Weekly, biweekly and irregular pay gets converted to an annual figure using one consistent method. Overtime, tips and seasonal work are where most calculation errors start, so we show the arithmetic in the file.
- Asset and imputed income review
- Bank balances, retirement accounts and other assets can add income even when a resident has no paycheck. We record the asset values and the income attributed to them.
- AMI band assignment
- Each resident is compared to the current published limit for Broward County at the right family size. We note whether the unit sits at or below 80 percent or in the 80 to 120 percent band, since that sets the exemption percentage for the unit.
- Rent limit cross-check
- Income is only half the test. We confirm the contract rent, plus any utility allowance, stays within the limit for the unit's band and bedroom count.
- Organized certification files
- You receive a unit-by-unit file and a summary sheet that ties back to your FHFC certification filing and your County DR-504AFH filing.
Signs your income files need attention
Leasing used a market-rate application
Standard rental applications ask about income but rarely capture what a certification needs, such as third-party verification or asset details.
Stated income with no backup
A number typed into a form is not evidence. If a reviewer asks for the source document and you cannot produce it, the unit is exposed.
Units near the 80 percent line
A small math error can move a resident across the 80 percent threshold and change that unit's exemption from full to partial.
Your restricted count is close to 70 percent
When you have little margin above the minimum, one disqualified unit can put the whole property's exemption at risk.
Staff turnover in the leasing office
New staff often verify income differently than the people before them. Inconsistent methods across one rent roll are hard to defend.
What affects the cost
Pricing depends on how much work each file needs, not on a flat rate per property. A building with clean, recent certifications takes far less time than one where income was never verified. We explain the scope before work starts, and you can get a free savings estimate on the same call.
Number of restricted units
More units means more files to build and review.
Condition of existing files
Files that only need a recheck cost less than files rebuilt from nothing.
Income complexity
Self-employment, multiple jobs, tips and large asset balances each add calculation time.
Resident response time
When documents arrive slowly, follow-up stretches out. Close coordination with your leasing office keeps this down.
Timing against the filing deadline
Work compressed into the weeks before the March 1 application date takes more hours per day to finish.
How a verification project runs
- 1
Free eligibility check
On the first call we look at your unit count, rent levels and current tenant files to see whether the property can meet the 70 percent test.
- 2
File gap review
We go through existing files and mark each unit as complete, missing documents or needing recalculation. You get a written list, not a general impression.
- 3
Collection and follow-up
Your coordinator works with leasing staff to request missing items from residents and tracks each one until the file closes. We work from our office or by phone and video.
- 4
Calculation and certification
Each resident's income is annualized, assigned to an AMI band and checked against the rent limit. Questionable items get flagged for you before anything is signed.
- 5
Handoff for filing
The completed files and summary go into your exemption package, ready for the FHFC and property appraiser steps.
Resident income verification questions
Which income limits apply to a property in Plantation?
Plantation falls under the Broward County limits published each year and used for the Live Local Act. Limits change annually and vary by family size. We use the figures in effect at the time of certification and note the source in each file.
Do residents have to share bank statements?
Asset information is part of a complete certification because assets can generate countable income. We ask only for what the calculation needs and explain to your staff why each item matters, which tends to make residents more willing to provide it.
What happens if a resident is over 120 percent of AMI?
That unit does not count toward the restricted total. We flag it early so you know your real count and can decide how to handle future vacancies before your filing goes in.
Is this the same as annual recertification?
No. Verification builds the initial income file for each resident. Annual recertification updates those files each year so the property keeps qualifying, and many owners have us handle both.
Can you work with our property management company?
Yes. Your coordinator works directly with the management team, so they have one person to send documents to and one person answering their questions.
Find out where your tenant files stand
Tell us your unit count and how income has been documented so far. We will tell you plainly whether the property can meet the test and what the files need.