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federalUnited StatesTax-Exempt Private Activity Bond Financed Residential Rental Propertyunit_vacancy
A vacated qualifying unit keeps its character only for a temporary period that may not exceed 31 days
bond.unit_vacancy.thirty_one_day_temporary_period · v1.0.0
A unit occupied at the commencement of occupancy by an individual or family of low or moderate income is treated as so occupied throughout that tenancy even if the household's income later rises, and continues to be so treated until it is reoccupied. That treatment survives a vacancy only for a temporary period, and in no event may the temporary period exceed 31 days. On reoccupation the character of the unit is redetermined. This is a fixed day count, unlike the section 42 vacant unit rule, which has no day count at all and asks instead whether reasonable attempts to rent the unit are being made and whether comparable units were let to non-qualifying households.
- Confidence
- high
- Effective from
- 1986-10-22
- Last reviewed
- 2026-08-30
Evidence required
- Rent roll(one_per_year)
- Executed lease agreement(one_per_unit)
Citations
All sources verified within 1 day- Interest on bonds to finance certain exempt facilities - paragraph (b), residential rental property26 CFR 1.103-8(b)(5)(ii) - Low or moderate income occupancy requirement
- Form 8703, Annual Certification of a Residential Rental ProjectForm 8703 (Rev. 12-2021), instructions to lines 11 through 13