N.J. Admin. Code § 5:80-9.10 - Resetting of rent upon unit vacancy

(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.

Notes

N.J. Admin. Code § 5:80-9.10

Adopted by 51 N.J.R. 409(b), effective 3/18/2019