Tax Credit Basics 17: Unit Transfers and the Unit Vacancy Rule (HOTMA)

Two additional unique compliance rules are the unit transfer and the unit vacancy rules. While the tax credit program allows for unit transfers, specific guidelines must be followed. Most important is knowing when a transfer is considered a swap, and when you need to re-qualify the household to maintain your property’s applicable fraction. You will also learn important definitions related to the unit vacancy rule and how to document reasonable attempts and unit availability.