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 Management Compliance Management System (WTCMS)

All Properties (with the exception of congregate/bed properties) monitored by Virginia Housing are required to enter or upload, through the XML process, household data into WTCMS.

This system is accessible through any web browser. You must complete the registration process for approval.

WTCMS rounds all figures to the nearest dollar and this is causing some rent amounts to print on the TIC reflecting $1 more than the maximum tax credit rent allowed. If the rent amount printed on the WTCMS-generated TIC is incorrect, please be reminded that management is still responsible for charging residents the correct rent amount.

If you are having trouble with WTCMS please contact our Help Desk at 804-343-5758 or toll free at 877-843-2123, extension 5758.

• Web Tenant Management Compliance Management System (WTCMS)
• HDS WTCMS Manual Modified by Virginia Housing (.pdf)
• Users Guide


Video Training Segments

• Adding Units
• Moving In
• Recertifying a Household

 

 

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.