How much does a LIHTC file review cost?
Independent LIHTC file review is normally priced per file, per property, or on a monitoring retainer. What you pay depends on how many files are reviewed, how deep the review goes, how many programs the property answers to, and how fast you need it. Below is how we scope and price an engagement, so you can estimate before you ask for a number.
Pricing models
Three ways engagements are structured.
Per-file review
Priced per tenant file. Best for overflow capacity, lease-up certifications, or a defined sample ahead of agency monitoring.
Per-property engagement
A fixed scope covering an agreed file set, a findings report, and a prioritized correction plan. Best for MOR or state monitoring preparation.
Portfolio monitoring retainer
Recurring quarterly, semi-annual, or annual review across multiple properties, with comparable reporting for asset management and investors.
What moves the price
Six variables decide the number.
- Number of files, not number of unitsPricing follows the files actually reviewed. A 120-unit property with a 20 percent sample is a different engagement than the same property at 100 percent review.
- Review depthA targeted look at initial certifications costs less than a full-file review covering income, assets, student status, Utility Allowance support, rent limits, and set-asides.
- Program layeringA standalone Section 42 file is one rulebook. LIHTC layered with HUD, HOME, RD, or a state program means each file is measured against several sets of requirements.
- File conditionClean, indexed, digital files review faster than incomplete paper files that require reconstruction and follow-up with site staff.
- TurnaroundA standard cycle is priced differently than an expedited review driven by an imminent monitoring visit, investor deadline, or 8823 correction period.
- Corrections and re-reviewSome engagements stop at the findings report. Others include corrective action support and a second pass once the site has fixed the files.
What a quote includes
You get a scope, not an hourly guess.
Every quote states the file count, the review standard being applied, the programs covered, the deliverables, and the turnaround. Findings are documented file by file with the regulatory citation behind each one, so your team can correct with confidence rather than argue about interpretation. If corrective action support and re-review are included, that is stated in the scope as well.
To price accurately we need the property count, unit count, programs involved, the number of files you want reviewed, and your deadline. Send those and you get a fixed scope back rather than a range.
Get in touch
Want a number for your portfolio?
Send the property list, programs, and deadline. We come back with a scoped, fixed quote rather than an open-ended hourly estimate.