HUD: Submit a Budget Based Rent Increase

• By: admin
• On: 02/07/2018 15:16:29
• In: HUD News

• Rent increases should ONLY be submitted when current rent levels are NOT sufficient to cover anticipated or unavoidable increases in operating costs.
• No material change in any of the supporting documents will be allowed after the initial submission.
• The Budget Worksheet (see attached template) must include the most current completed year's audited line items, be mathematically correct and be signed by an authorized representative of the owner/agent.
• HUD processing time is 30 days.  Submissions that are not complete, accurate or correct may be returned.
• Rent increases that are not reviewed by a PBCA should be sent to ATL.incoming@hud.gov.
• Additional resources can be located:  HUD Handbook 4350.1, Chapter 7; 24 CFR Part 245.305, Subpart D and Part 245.310; 24 CFR Parts 886.112 and 886.312; Housing Notices; HAP Contracts; PRAC Contracts; Regulatory Agreements, Section 8 Renewal Policy Guide; etc.