Affordable Housing

Low-income Housing Tax Credit

Sherman Property Management currently provides management and compliance services for units financed through the LIHTC Section 42 program and has been providing comprehensive property management services for LIHTC communities. Sherman Property Management has built this portfolio through successful management of new construction and acquisition/rehab projects and provides affordable property management in SoCal and NorCal, financed through LIHTC, HUD, tax credits, bonds, and Sec. 8, etc.

The majority of the affordable portfolio includes the oversight of nonprofit co-managing general partners. Sherman Property Management works closely with these partners to assure compliance with all programs as well as daily involvement with the applicable social service providers.

Affordable Programs

Sherman Property Management develops properties under various HUD-insured programs, including Project Based Section 8, Section 236, and USDA-Rural Development. Currently, we offer comprehensive management services for all types of affordable programs, including

  • HUD Project Based Section 8, PRAC
  • Low Income Housing Tax Credits (LIHTC)
  • Home Funds/Bond
  • USDA Rural Development 515
  • Housing Finance Agency

Sherman Property Management is committed to processing accurate Housing Assistance Payment (HAP) and Rental Assistance for Owners. The Affordable AR and Compliance team interacts directly with USDA-RD, HUD, and the contract administrator to ensure vouchers are processed timely and in compliance. Yardi Voyager and RealPage OneSite are the affordable software currently used to process Rental Assistance and HAP payments through the TRACS and MINC systems.

Sherman Property Management maintains memberships in AHMA—Affordable Housing Management Association—as well as state and local apartment associations.