The Available Unit Rule & The Vacant Unit Rule (OCCH)
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Sponsored by the OCCH
The good news? Households who qualify for Section 42 at the time of move-in remain qualified even if their income increases. They don’t have to leave. The bad news? Management may be required to implement the Available Unit Rule—a rule that terrifies property managers.
And what if a family vacates a tax credit unit? What rules do we need to follow?
The end of the year is a good time to make sure you’re up to speed on these two quirky-sounding rules, which actually make sense from a tax perspective, at least according to our consultant Vivian Probst. Let her help make your holidays merry and bright by shedding light on how to do these right!