[Code of Federal Regulations]

[Title 24, Volume 4]

[Revised as of April 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 24CFR983.302]



[Page 678]

 

                 TITLE 24--HOUSING AND URBAN DEVELOPMENT

 

CHAPTER IX--OFFICE OF ASSISTANT SECRETARY FOR PUBLIC AND INDIAN HOUSING, 

               DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

 

PART 983_PROJECT-BASED VOUCHER (PBV) PROGRAM--Table of Contents

 

                         Subpart G_Rent to Owner

 

Sec.  983.302  Redetermination of rent to owner.



    (a) The PHA must redetermine the rent to owner:

    (1) Upon the owner's request; or

    (2) When there is a five percent or greater decrease in the 

published FMR in accordance with Sec.  983.301.

    (b) Rent increase. (1) The PHA may not make any rent increase other 

than an increase in the rent to owner as determined pursuant to Sec.  

983.301. (Provisions for special adjustments of contract rent pursuant 

to 42 U.S.C. 1437f(b)(2)(B) do not apply to the voucher program.)

    (2) The owner must request an increase in the rent to owner at the 

annual anniversary of the HAP contract by written notice to the PHA. The 

length of the required notice period of the owner request for a rent 

increase at the annual anniversary may be established by the PHA. The 

request must be submitted in the form and manner required by the PHA.

    (3) The PHA may not approve and the owner may not receive any 

increase of rent to owner until and unless the owner has complied with 

all requirements of the HAP contract, including compliance with the HQS. 

The owner may not receive any retroactive increase of rent for any 

period of noncompliance.

    (c) Rent decrease. If there is a decrease in the rent to owner, as 

established in accordance with Sec.  983.301, the rent to owner must be 

decreased, regardless of whether the owner requested a rent adjustment.

    (d) Notice of rent redetermination. Rent to owner is redetermined by 

written notice by the PHA to the owner specifying the amount of the 

redetermined rent (as determined in accordance with Sec. Sec.  983.301 

and 983.302). The PHA notice of the rent adjustment constitutes an 

amendment of the rent to owner specified in the HAP contract.

    (e) Contract year and annual anniversary of the HAP contract. (1) 

The contract year is the period of 12 calendar months preceding each 

annual anniversary of the HAP contract during the HAP contract term. The 

initial contract year is calculated from the first day of the first 

calendar month of the HAP contract term.

    (2) The annual anniversary of the HAP contract is the first day of 

the first calendar month after the end of the preceding contract year. 

The adjusted rent to owner amount applies for the period of 12 calendar 

months from the annual anniversary of the HAP contract.

    (3) See Sec.  983.206(c) for information on the annual anniversary 

of the HAP contract for contract units completed in stages.