Research requirements

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9 results · 8 match every term, 1 related

• federalUnited StatesRD 515
  Utility allowances must be reviewed annually and the result reported to Rural Development even when nothing changesRequirement excerpt: In a Section 515 project where tenants pay the utilities, the borrower must establish a utility allowance for each size and type of rental unit based on estimated utility costs, review those allowances annually, adjust them for accuracy,…Read conditions and sources →
• federalUnited StatesRD RA
  Where the utility allowance exceeds the tenant's net contribution the borrower must pay the tenant the difference monthlyRequirement excerpt: Where a tenant receiving Rental Assistance is billed directly for utilities and the utility allowance exceeds the tenant's net contribution to rent, the borrower must pay the tenant the difference between the utility allowance and the net…Read conditions and sources →
• federalUnited StatesRD RA
  The tenant contribution must be adjusted on any revised certification or approved rent or utility allowance change, and a borrower who files late is charged overage and loses the RARequirement excerpt: The Rental Assistance payment is a residual - basic rent plus the utility allowance less the net tenant contribution - so it moves whenever the contribution moves, and the regulation makes the adjustment mandatory rather than periodic.…Read conditions and sources →
• federalUnited StatesRD 515
  Rent and utility allowance changes need Agency written approval, a 20-day tenant comment period and 30 days noticeRequirement excerpt: A borrower must not change a rent or a utility allowance without first submitting a fully documented request to Rural Development and obtaining written consent or approval. At the same time the request goes to the Agency the borrower must…Read conditions and sources →
• federalUnited StatesRD RA
  The Rental Assistance payment is basic rent plus the utility allowance, less the net tenant contributionRequirement excerpt: A borrower's request for a Rental Assistance payment must be based on the difference between the basic rent PLUS the utility allowance for the unit and the net tenant contribution of the tenant. Rental subsidies exist to close exactly that…Read conditions and sources →
• federalUnited StatesRD RAReview limitations
  For a HUD voucher holder the unit rent is basic rent or the PHA rent standard, whichever is lessRequirement excerpt: Where a tenant holds a HUD voucher, the borrower must set the rental unit rent at the basic rent or the rent standard set by the public housing authority, WHICHEVER IS LESS. The public housing authority distributing the vouchers may set the…Read conditions and sources →
• federalUnited StatesRD 515
  Note rent, basic rent and any HUD contract or LIHTC rents must be established and approved by Rural DevelopmentRequirement excerpt: The borrower must establish, as applicable, note rent, basic rent, HUD contract rents and low-income housing tax credit rents for each rental unit, based on the operating, management and maintenance expenses and other costs of the housing…Read conditions and sources →
• federalUnited StatesRD 515Review limitations
  Tenant contribution is the highest of four standards and is capped at note rentRequirement excerpt: The borrower must set a Section 515 tenant's contribution to rent at the HIGHEST of four standards, but never at more than note rent: thirty percent of monthly adjusted income; ten percent of gross monthly income; the portion of a…Read conditions and sources →
• federalUnited StatesRD 538Related — matches some termsReview limitations
  Rent for any Section 538 unit, including tenant-paid utilities, must not exceed 30 percent of 115 percent of AMIRequirement excerpt: The rent for any individual housing unit in a Section 538 guaranteed project, INCLUDING any tenant-paid utilities, must not exceed an amount equal to 30 percent of 115 percent of area median income, adjusted for family size. This is a…Read conditions and sources →