Rent and utility allowance changes.

CFR · 2024-01-01 · US · Title 7

(a) (b) (1) Borrowers must obtain written consent or approval from the Agency as specified in paragraph (e) of this section before implementing any changes in the rents or utility allowances. (2) If a borrower implements an unauthorized rent or utility allowance charge, the Agency will require the borrower to roll back rents to the last authorized rent charge, and the borrower must reimburse tenants for any unauthorized rents collected. (c) (d) (1) Tenants will be given 20 calendar days to provide their comments to the Agency. (2) Borrowers must deliver the proposed rent or utility allowance change request notice to each tenant and post at least one copy of the notice at the housing project site in a visible location frequented by tenants. (e) (f) (1) The Agency determines that the borrower did not provide sufficient information to justify operating costs. (2) The borrower is out of compliance with Agency requirements including any corrective action requirements agreed to in a workout agreement developed according to subpart J of this part. (3) Sufficient funds are being collected under existing rents to meet approved expenses. (g)

official document · source cfr-2024 · id 7:§ 3560.205