Housing assistance payment
Housing assistance payment means the payment made by HUD to the Borrower for assisted units as provided in the HAP contract. The payment is the difference between the contract rent and the tenant rent. An additional payment is made to a family occupying an assisted unit when the utility allowance is greater than the total tenant payment. A housing assistance payment, known as a vacancy payment, may be made to the Borrower when an assisted unit is vacant, in accordance with the terms of the HAP contract.