New Jersey Administrative Code
Title 5 - COMMUNITY AFFAIRS
Chapter 80 - NEW JERSEY HOUSING AND MORTGAGE FINANCE AGENCY
Subchapter 9 - RENTS
Section 5:80-9.10 - Resetting of rent upon unit vacancy
Universal Citation: NJ Admin Code 5:80-9.10
Current through Register Vol. 56, No. 18, September 16, 2024
(a) Notwithstanding the provisions of this subchapter, and subject to any more restrictive Federal or State laws or monthly fee limits for ALR units under N.J.A.C. 5:80-9.14, the rent for an individual affordability-restricted unit may be reset up to the maximum amount for such unit upon the vacancy thereof where the tenant has died or voluntarily vacated, abandoned, or been legally evicted from the unit.
1. In determining the maximum rent, the
calculation shall be based upon the applicable maximum allowable income
assuming residence by 1.5 persons per bedroom and the payment of no more than
30 percent of the maximum allowable income for rent.
2. The maximum rent for any
affordability-restricted unit shall be determined in accordance with (a)1 above
pursuant to the most recent year's figures as shown on that chart of the
maximum allowable rents, which is available on the Agency's website at
http://njhousing.gov/
dca/hmfa/developers/credits/compliance/limits.shtml.
Disclaimer: These regulations may not be the most recent version. New Jersey may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
