How often must a LIHTC property be inspected for compliance?

A Low-Income Housing Tax Credit (LIHTC) property must be inspected for compliance every year for the first 15 years, and then every three years afterward. This schedule helps ensure that the properties remain in compliance with the program's requirements and continue to provide safe and decent housing for low-income tenants.

Frequent inspections during the initial 15 years are crucial, as this period is essential for establishing a property's compliance with various federal regulations and for maintaining the quality of housing. After the 15-year period, inspections can be less frequent, reflecting that properties have demonstrated ongoing compliance over a significant time frame.

This structured approach promotes accountability and supports the objective of the LIHTC program, which is to provide affordable housing options while ensuring that properties meet health and safety standards.