Every unit must stay rented or available for rental for the longer of the remaining bond term or the qualified project period

bond.affordability_period.continuous_rental_availability · v1.0.0

Once available for occupancy, EACH unit in the project - not only the units counted toward the set-aside - must be rented or available for rental on a continuous basis during the longer of the remaining term of the obligation or the qualified project period. Because the test is the longer of the two, a bond whose final maturity runs past the fifteen-year point extends the rental requirement past the qualified project period; conversely a project whose Section 8 assistance continues after the bonds are retired stays inside the qualified project period. Withdrawing a unit from the rental market - converting it to an office, a model, a short-term rental, or holding it off line for a non-temporary period - is a failure of this requirement regardless of whether the set-aside percentage is still met.

Confidence

high

Effective from

1986-10-22

Last reviewed

2026-08-30