Regulatory Compliance

Vision Quest Property Management specializes in managing the many facets of the Section 42 compliance program. We have developed a systematic approach which protects and maximizes tax credits of ownership. This approach has proven to be dependable and has kept Vision Quest’s history clean from re-capture of tax credits for non-compliance.

Comprehensive Compliance Operation Guide

Vision Quest employs certified Section 42 compliance specialists. These employees are re-certified annually and are kept abreast of any program updates and changes. Vision Quest offers a comprehensive Section 42 guide to its employees as an ongoing training tool and reference source. As income limits, income exclusions and other factors change in relation to the Section 42 program, these guides are updated and information is distributed.

Organized Documentation

Documentation for the program is accomplished by the community manager according to the requirements of Section 42 of the Internal Revenue Code. The community manager is responsible for securing and maintaining the applications and all other relevant verifications and records.

Record Keeping

Vision Quest maintains detailed and comprehensive records required to comply with the Section 42 program. Detailed reports are provided to governing state regulatory agencies on an annual basis. Resident files are also maintained for mandatory audits and site inspections.

Staff Development

Seminars and training session are offered to Vision Quest compliance specialists on an annual basis to promote understanding and compliance with Section 42 requirements.

“Vision Quest Property Management has always been honest and fair in their dealings with me. They insist on quality workmanship, and I’m happy to provide that for them. We’ve had a very positive working relationship.” Steve H.
Vendor
Steve’s Remodeling