§982.102 Allocation of budget authority for renewal of expiring consolidated ACC funding §982.607 Congregate housing: Lease and HAP contract. §982.629 Homeownership option: Additional PHA requirements for family search and purchase. (iv) A low-income family that qualifies for voucher assistance as a 

Oct 5, 2016 3. CHOOSE YOUR SECTION 236 PRESERVATION OPTIONS. 4. 1. HAP contract must be terminated and renewed for 20 years at or just  Dec 1, 2016 B. Eligibility. Owners eligible to renew under Chapter Four of this Guide, or Option Two, may potential rent with the current HAP contract rents. §982.102 Allocation of budget authority for renewal of expiring consolidated ACC funding §982.607 Congregate housing: Lease and HAP contract. §982.629 Homeownership option: Additional PHA requirements for family search and purchase. (iv) A low-income family that qualifies for voucher assistance as a  (4) During the term of the HAP contract, the PHA makes housing assistance at the sole option of the PHA, HAP contracts may be renewed for terms for an  Chapter Six of the Section 8 Renewal Policy has complete guidance regarding Option 4. Rent Adjustments with Multi-year Contracts. Annual rent increases during the term of the contract can be either OCAF Rent Adjustments or Budget-Based, as determined by the owner. However, if you submit a budget-based adjustment, you must submit an RCS that Why is HAP contract renewal important? 4 •HAP contracts = usually 20-year term •Most owners are not required to renew HAP contract at the end of its term •Owner decision to renew or “opt out” of the HAP contract depends on variety of economic (rent levels) and non-economic (administrative burdens) factors

982.102 Allocation of budget authority for renewal of expiring CACC funding 982.607 Congregate housing: Lease and HAP contract. 982.629 Homeownership option: Additional PHA requirements for family (4) Correction of errors.

The Owner’s Contract Renewal request paperwork is due at least 120 days before the HAP Contract expires. There are six Renewal Options from which to select: Option 1: Mark-Up-To-Market . Option 2: Rents at or Below Comparable Market Rents . Option 3: Referral to RECAP . Option 4: Renewal of Projects Exempt from *or Not Eligible for Debt-Restructuring* Option 5: Reengineering Demonstration or Preservation Projects . Option 6: Opt-Out . Reminder: The Owner must post their intent to renew or Option 5: Reengineering Demonstration or Preservation Projects . Option 6: Opt-Out . Reminder: The Owner must post their intent to renew or opt-out of the Project-Based Section 8 HAP Contract at least 12 months before the contract expires. CMS should review the letters prior to posting to tenants to ensure language contained in the letter is Option 4 – Exempt from OAHP. Option 4 is for projects that are exempt from referral to OAHP although rents may exceed market. See the Section 8 Renewal Policy Guide, Chapter 6, for additional information on projects that qualify as exceptions. 24 CFR § 402.4 - Contract renewals under section 524(a)(1) of MAHRA. § 402.4 Contract renewals under section 524(a)(1) of MAHRA. (a) Initial renewal. (1) HUD may renew any expiring section 8 project-based assistance contract at initial rents that do not exceed comparable market rents. (2) Procedure for projects eligible for Restructuring Plan. If your original Section 8 Contract was effective in the 1980s and 1990s and is approximately a 20year Contract; your Contract Renewal Proposal is due for submission to Contract Administrator 120 days prior to expiration of the Contract and must be renewed pursuant to guidelines in revised HUD Section 8 Renewal Policy Guide (Guide).

The following HAP Senior Plus (PPO) plans offer Medicare Advantage Prescription Drug plan coverage to HAP Senior Plus Option 4 H2322-004 ( PPO).

§982.102 Allocation of budget authority for renewal of expiring consolidated ACC funding §982.607 Congregate housing: Lease and HAP contract. §982.629 Homeownership option: Additional PHA requirements for family search and purchase. (iv) A low-income family that qualifies for voucher assistance as a  (4) During the term of the HAP contract, the PHA makes housing assistance at the sole option of the PHA, HAP contracts may be renewed for terms for an  Chapter Six of the Section 8 Renewal Policy has complete guidance regarding Option 4. Rent Adjustments with Multi-year Contracts. Annual rent increases during the term of the contract can be either OCAF Rent Adjustments or Budget-Based, as determined by the owner. However, if you submit a budget-based adjustment, you must submit an RCS that Why is HAP contract renewal important? 4 •HAP contracts = usually 20-year term •Most owners are not required to renew HAP contract at the end of its term •Owner decision to renew or “opt out” of the HAP contract depends on variety of economic (rent levels) and non-economic (administrative burdens) factors Certain project types are not eligible for OAHP, formally known as OMHAR, even though the contract rents may exceed market. Projects without FHA-insured loans are exempt, as are certain FHA-insured properties. The “Lesser of” Test . Projects submitting a renewal under Option Four are subject to the “Lesser of” test. The “Lesser of

Oct 5, 2016 3. CHOOSE YOUR SECTION 236 PRESERVATION OPTIONS. 4. 1. HAP contract must be terminated and renewed for 20 years at or just 

The initial term of the lease and the HAP contract must be for one year except as provided in extension term) only on the following grounds: a. Serious or repeated 4. The owner may only evict the participant by instituting court action after or If, after exhausting all other options, it becomes necessary to terminate HAP.

If your original Section 8 Contract was effective in the 1980s and 1990s and is approximately a 20year Contract; your Contract Renewal Proposal is due for submission to Contract Administrator 120 days prior to expiration of the Contract and must be renewed pursuant to guidelines in revised HUD Section 8 Renewal Policy Guide (Guide).

§982.102 Allocation of budget authority for renewal of expiring consolidated ACC funding §982.607 Congregate housing: Lease and HAP contract. §982.629 Homeownership option: Additional PHA requirements for family search and purchase. (iv) A low-income family that qualifies for voucher assistance as a  (4) During the term of the HAP contract, the PHA makes housing assistance at the sole option of the PHA, HAP contracts may be renewed for terms for an  Chapter Six of the Section 8 Renewal Policy has complete guidance regarding Option 4. Rent Adjustments with Multi-year Contracts. Annual rent increases during the term of the contract can be either OCAF Rent Adjustments or Budget-Based, as determined by the owner. However, if you submit a budget-based adjustment, you must submit an RCS that Why is HAP contract renewal important? 4 •HAP contracts = usually 20-year term •Most owners are not required to renew HAP contract at the end of its term •Owner decision to renew or “opt out” of the HAP contract depends on variety of economic (rent levels) and non-economic (administrative burdens) factors Certain project types are not eligible for OAHP, formally known as OMHAR, even though the contract rents may exceed market. Projects without FHA-insured loans are exempt, as are certain FHA-insured properties. The “Lesser of” Test . Projects submitting a renewal under Option Four are subject to the “Lesser of” test. The “Lesser of Your HAP Contract will determine the rent adjustment method you should use. If your contract is expiring, please see our Contract Renewal Options above to determine your renewal option for the upcoming year. Operating Cost Adjustment Factor (OCAF) Rent Adjustments. The OCAF (Operating Cost Adjustment Factor) is a factor that is established by HUD, and is applied to the existing contract rent

Jun 14, 2018 by an RCS if Property B intends to renew the contract under Option One MUTM. to an existing Option Four contract where rents are above market, but already subject to a section 8 HAP Contract, as amended per section  982.102 Allocation of budget authority for renewal of expiring CACC funding 982.607 Congregate housing: Lease and HAP contract. 982.629 Homeownership option: Additional PHA requirements for family (4) Correction of errors. The initial term of the lease and the HAP contract must be for one year except as provided in extension term) only on the following grounds: a. Serious or repeated 4. The owner may only evict the participant by instituting court action after or If, after exhausting all other options, it becomes necessary to terminate HAP. Can the owner/agent implement the GR (Gross Rents) on a HAP Request to be performed when renewing the Section 8 contract under option 4 for Initial and  HAP contracts that cover a large majority of the property, typically 90 percent, are seen may be possible, especially if the HAP contract was renewed under Option 4. (Option 4 is one of the types of HAP contract extensions that is available for  What is Section 8 HAP Overhang? 4. When the long-term project-based Section 8 contract rents exceed the appraiser's concluded market rents. OR. When the  owner: 1. Renews the contract for 20 yrs. under Option 1, 2, 3 or 4; and. 2. Agrees to A.) The A CA can renew a Section 8 HAP contract for up to five years.