If I rent unrestricted units to low income and very low-income tenants (after I have met my total and low income set-asides), must I designate their units as qualifying units?
No. An owner is only obligated to designate enough qualifying units to meet the set-asides. All other tenants can be listed as unrestricted, and no AHP documentation is required. It must be noted however that keeping a “reserve” of low and very low-income households is a good way to expedite the replacement of vacated qualified units.
Related Questions
- If a propertys VLI Set-Aside has been met, but not the Total Set-Aside, can the remaining units be rented to VLI-eligible tenants and designated as LI units?
- If I rent unrestricted units to low income and very low income tenants (after I have met my Total Set Aside), must I designate their units as Qualifying Units?
- If a property’s VLI Set-Aside has been met, but not the Total Set-Aside, can the remaining units be rented to VLI-eligible tenants and designated as LI units?
