Rent increases to owners will be considered annually at the anniversary date of the HAP Contract of the assisted family. Owners must complete a Rent Increase Form a minimum of 60 days prior to the lease end date HACC will conduct a rent reasonableness analysis and advise the owner if the rent increase can be approved or negotiate a different rent if applicable.
Rent increases for rent-restricted rental units receiving an indirect subsidy from another government source (Department of Agriculture, Low Income Housing Tax Credits under the IRS, etc) will be processed when a project-wide rent increase has been approved by the assigned oversight agency for these properties. HACC will approve a rent for the tenant-based vouchers in these properties that is equivalent to the market rate rent approved by the corresponding agency.
If these properties have no market rate units, HACC will approve rent for tenant-based vouchers equal the highest restricted rent for the applicable unit size and type in the property.
Rent increases for other multi-family properties shall be granted if they do not exceed the current published rent schedule for the same unassisted units in the multi-family property. Owners will be required to provide HACC with an executed lease agreement for a non-assisted unit indicating that the unit was leased at the requested increased rent.
Rent increases for single-family properties (four units or less) shall be limited to the HUD published annual operating cost adjustment factor (OCAF).
All rent increases are subject to available funding. HACC may deny any request for a rent increase if it is determined that there are insufficient funds available to support the requested rent increase.