Question from a Client:

Rose from Illinois


Question:  In an acquisition rehab say a tenant who is disabled moves into a regular unit because the disabled units are not yet completed. The tenant turned on the credits in the unit he moved into.  The tenant now needs to be transferred to a disabled unit. How does it [the credits] work?

Answer:  The credits follow the qualified household when they transfer on property.  When the tenant with disabilities transfer to the accessible unit, that unit becomes a qualified tax credit unit and the unit they are leaving becomes an empty unit.  In other words the credits follow the tenant when they transfer to the empty accessible unit.  The status of the units switch once the transfer occurs which means the old unit becomes an empty unit.  Once a qualified household moves into the empty unit, that unit will become a qualified unit.

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