Moderate (Affordable) Housing at Citrus Commons/h1>
Citrus Commons offers Moderate (Affordable) homes for households whose income does not exceed 120% of Area Median Income (AMI). These homes are priced below our market-rate rents. Maximum income and rent amounts may change each year on July 1. Review the requirements, income limits and documentation below before you apply.
Income Limits Apply
Household income must not exceed the maximum for your household size. A minimum household income also applies to each home type.
Documentation Required
Applications must include all required documentation, including proof and source of income, before approval.
Limited Availability
Availability is limited and may change. Homes are offered on a first-come, first-served basis and on approved credit only.
Documents Accepted – INFO FPO
The Program requires that all applicants complete a Tenant Income Certification Form at both Initial Certification and Annual Recertification and provide the following income documents. Additional documents may be requested if needed to determine eligibility through the City of Los Angeles audit requirements. Minimum household income requirements are listed in the Occupancy & Income Limits section below.
Documents required:
- Paycheck stubs from the (2) most recent months from every employer for each employed member of the household.
- Employment Verification Form
- If employed and paystubs are not available, we will consider other sources of employment verification, but is subject to the request of additional documents as needed to determine income eligibility as well as a signed Self Employment Affidavit.
- If Self-employed- Signed copies of the most recent years’ income tax return with Schedule C (1099 if applicable) and Current six (6) month profit and loss statement.
- One (1) month of account statement reflecting household assets (e.g., checking, savings accounts, stocks, interest-bearing checking accounts, or other assets) – .06% of all household assets are added to your annual gross income. All pages from every account. If additional deposits show in the provided bank statements, a separate document can be requested with specified notations for each deposit.
- Signed copy of most recent income tax returns, if income taxes were not filed for a given year, we require an official IRS confirmation letter that no tax records are on file for each applicable adult member of the household. We can provide the information on how to obtain this through the IRS website.
- If receiving other benefits (e.g., Social Security, Disability, Child Support, Alimony, Royalties, Pension, etc.) Provide proof of income such as an award letter, additional documents may be requested.
- If an adult owns Real Estate Ownership (Fair Market Value and/or Closing Statement)
Occupancy & Income Limits
Rent, occupancy and income limits for Moderate (Affordable) homes at Citrus Commons.
Rent & Minimum Income by Home Type
| Bedrooms | Rent | Maximum Occupants | Minimum Household Income |
|---|---|---|---|
| Studio | $3,498 | 2 People | $76,650 |
| One Bedroom | $3,999 | 3 People | $88,350 |
Maximum Household Income by Household Size
| Household Members | One | Two | Three |
|---|---|---|---|
| Maximum Household Income | $139,900 | $159,950 | $179,900 |
Limits are based on 120% of Area Median Income and may change each year on July 1. Household income and other qualifying criteria are verified before approval.
More Information
Citrus Commons
14150 Riverside Drive, Sherman Oaks, CA 91423
818.305.8888 | citruscommons@imtresidential.com
Moderate (Affordable) homes are available only to households that meet the applicable income and eligibility requirements. Income limits and requirements are subject to change. Applications must be accompanied by all required documentation. Availability is limited and homes are offered on a first-come, first-served basis and on approved credit only.