Compliance & Asset Management Overview

Virginia Housing’s Compliance & Asset Management department:

• Monitors properties that receive Low-Income Housing Tax Credit (LIHTC) for compliance with IRS guidelines.
• Monitors properties that receive tax-exempt bond financing through Virginia Housing for compliance with IRS income occupancy restrictions.
• Ensures owner’s compliance with HUD Section 236/RAP program guidelines.
• Monitors properties that receive Virginia Housing taxable bond or other Virginia Housing financing sources for compliance with Virginia Housing rules and regulations.
• Serves as Contract Administrator of HUD Section 8 Project-based subsidy contracts.
• Educates owners and managers on program requirements monitored by Virginia Housing.  

Web Tenant Compliance Management System (WTCMS) is now HDS NextGen

Existing usernames and passwords will work to access NextGen. The property and tenant data, along with property assignments, will be available without additional action.

Google Chrome is the required web browser. The system upgrade will not operate using other web browsers (Internet Explorer, Firefox, Safari, etc.).

The XML extension used to electronically submit tenant activity to HDS NextGen must be at version 5.0 or higher. Please confirm with your property management software vendor that your system has the proper version.

We are aware that the income limits may not populate on the TIC for non-Tax Credit properties. Virginia Housing is working with the vendor on this issue. Updates will be posted to the website and sent via email to all system users.

We can assist you with updating your site record to print the limits on the TIC.  Send an email with your site name and 4-digit site number to compliance-assetmanagement@virginiahousing.com. 

HDS NextGen Resources 

Review the links for HDS NextGen guidance. Updates will be shared via email. Sign up for Virginia Housing Updates.

• HDS NextGen: Registration
• HDS NextGen: Logging In and Navigation
• HDS NextGen: Adding a Unit
• HDS NextGen: Creating a Tenant Income Certification (TIC)
• HDS NextGen User Guide (PDF)
• HDS NextGen WebEx Recording
  
• HDS NextGen Questions and Responses
  
  

Send questions to compliance-assetmanagement@virginiahousing.com. Include your assigned Compliance Officer on the email.  Also, include HDS NextGen and the property name in the email subject line.

NOTE: You will need Adobe’s Acrobat Reader (.pdf), and/or Microsoft Office Software in order to view some of the documents on this page.