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July 28, 2011

Q
Re my previous question, the rent increase was approved effective 8/1/2011 but the new rent schedule was not received until 8/11/2011. How do we handle this insofar as the 30 day notice is concerned.
A

Since the tenant rent is not affected, you may go ahead and post the final notice to the residents and simultaneously submitting the Gross Rent Change through TRACS.

If you are a 236 project where you have residents who pay the basic and market rents, we would have to make the rent effective date such that the residents are truly given a 30 day window to comment on the rent increase without having it go into effect.

Posted by: Dennis Harrison

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