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Click ‘Get Form’ to open the TENANT INCOME CERTIFICATION in the editor.
Begin with Part I: DEVELOPMENT DATA. Fill in the Property Name, Address, County, Unit Number, and number of Bedrooms. Ensure all details are accurate for proper processing.
Move to Part II: HOUSEHOLD COMPOSITION. List each household member's Last Name, First Name & Middle Initial, Date of Birth, and their Relationship to the Head of Household. This section is crucial for determining eligibility.
In Part III: GROSS ANNUAL INCOME, input annual amounts for Employment or Wages, Social Security/Pensions, Public Assistance, and Other Income for each household member. Calculate the total income by summing these amounts.
Proceed to Part IV: INCOME FROM ASSETS if applicable. Enter details about any assets over $5,000 and calculate the imputed income based on provided formulas.
Complete the HOUSEHOLD CERTIFICATION & SIGNATURES section. All adults (18+) must sign and date this form to certify that the information is true and complete.
Finally, review Parts V through VII for income eligibility determination and rent limits before submitting your completed form.
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Tenant Income Certification (TIC) is a critical process in affordable housing programs, ensuring that the tenants who benefit from these programs meet the specific income requirements set forth by the governing authorities.
How do you verify tenant income?
Generally, prospective tenants must show proof of income by providing property management with income verification documents. This typically includes evidence of: Regular or steady income, like a recent paystub. Total annual income, like a W-2 form, the previous years tax return from the IRS, or other tax documents.
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Annual income is income that will be received during the 12 month period following the effective date of income certification/recertification. DEFINITION OF
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