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Updated over 6 years ago on . Most recent reply

User Stats

3
Posts
1
Votes
Chau Cao
  • Investor
  • Richmond, VA
1
Votes |
3
Posts

Purchasing an apt building with LIHTC already in place

Chau Cao
  • Investor
  • Richmond, VA
Posted

Hi everyone.  I am getting ready to purchase an apt building that has LIHTC for another 8 years.  The owner already received tax credits and I will of course be getting nothing from LIHTC. My question is whether I have to follow their rent cap restrictions being that it was not my contract with LIHTC. Can I go back to market rent going forward?  The owner has already finished their original 15 years with LIHTC and this is their second term.  Thanks!

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