Program Compliance Accounting
Increases > On-line Rent
Increases Submission Procedures
information is required for all rent increase requests for properties that
do not meet the TC only guidelines (i.e., MHDC funds, HOME funds, TC only
requesting an increase greater than 7%).
The window for submitting a rent increase is October 1st –
December 31st. Go to
to enter the property’s rent increase request on-line. MHDC will not
accept mailed rent increase requests unless the property has 12 units
increase requests for senior designated properties (i.e., properties for
residents age 55 and older)
capped at the lower of the prior year Social Security Cost Of
Living Adjustment (COLA) or the allowed 7% maximum. However, in years
of 0% COLA adjustments, the owner will be allowed to increase rents by a
maximum of 2%.
for previous year COLA adjustments.
To submit during the budget process, you may budget an increase up to 7%
or the Social Security COLA adjustment. The system will recognize that
the amount exceeds your current MHDC approved gross potential rent
amount, and will ask you if you want to submit a rent increase – yes or
no. Answering yes will pull up a rent increase packet with all the
fields that are needed to submit a rent increase. If you answer no, the
system will warn you that no rent increase is approved and you will need
to submit your rent increase on-line by December 31st. All rent
increase requests will be reviewed at the same time we review the
property’s budget, and will be reviewed in the order budgets are
User name and
password is the same user name and password used to access the budget
and financial statement modules.
The new process
will not change the property’s effective date. The effective date will
still need to be at least one year from the effective date of your last
rent increase submission as noted on the approved Schedule II.
Rents MUST NOT be implemented until the Schedule II is signed by
MHDC and returned to the owner with the effective date specified. In the
event the owner/management has not complied with the list above, the
Schedule II will be placed on hold until the non-compliance is
On-line Rent Increase Submission Packet must include the following
Update provided Rent Grid with requested rent
increase amounts for each bedroom type.
All information on the Rent Grid has been entered by MHDC. Rent Grid
information is based on previous MHDC approved rent schedules or the
property’s Land Use Restriction and Regulatory Agreement. If a
property has residents with Section 8 vouchers MHDC must receive
documentation of the currently approved S8 voucher rents if they
are higher than the approved LIHTC rent. Documentation must be
uploaded with the rent roll.
Submitted Annual Financial Statement
Annual Financial Statements and Budgets are tracked thru MHDC’s AMRS
system. Properties cannot request a rent increase until these items
Current Rent Roll
A current rent roll must contain each unit, bedroom type, rent
amount, rent type, and lease move-in/renewal effective dates for
Three (3) comparable rents in the area for each
Explanations are required if three comparable rents cannot be
Current Utility Allowance
Utility allowance information must be current. Utility allowances
should not be older than one year . If a current utility allowance
is not available an explanation is required.
Vacancy information on the property for the past 6
MHDC will compare entered occupancy statistics against the monthly
on-line occupancy reporting statistics when evaluating the rent
Copy of MHDC
Notice to Residents of Management’s Intention to Submit a Rent
Increase Request to MHDC for Approval
Owner/Management is required to deliver to residents and post for public
viewing MHDC Exhibit A-21
Notice to Residents of Management’s Intention to Submit a Rent Increase
Request to MHDC for Approval
prior to submitting the rent increase request to MHDC. A copy of the
notice to residents must be included with the submitted rent increase
request. This notice may not be substituted with alternative language.