Announcements

Policy Clarification Regarding Annual Rent Increase Request

October 14, 2011

Earlier this year, HUD provided guidance disallowing Owners and Agents from requesting a "Funding Only" rent adjustment in lieu of a Budget based or OCAF increase.

In a memo issued by the The Office of Multifamily Housing on October 12, 2011, HUD is now issuing a broader interpretation of the Section 524 of MAHRA rules.

If an owner does not wish to have a rent adjustment for the budget year, they may now submit a zero budget-based request lieu of the OCAF adjustment by providing HUD with a written certification that the owner has reviewed the project's income and expenses and elects a zero budget-based rent adjustment for the year.HUD will be providing a sample certification form in the near future.