Preventing Fraud in Affordable Housing

Q: The building I own receives tax benefits through the 421-a Affordable Housing Program. In exchange for these benefits, I must rent 20 percent of the apartments to low- to middle-income families and these units are subject to Rent Stabilization. To qualify for one of these coveted apartments, an applicant must meet strict household and income qualifications. If an applicant does qualify and becomes a tenant, he must certify household composition and income on an annual basis as a condition of his continued tenancy.