3-4. 150 PERCENT RENT CAP FOR OPTION ONE-A

• A. Section 8 Rents. Under Option One-A, the renewal rent levels equal the lesser of comparable market rents for the market area or 150 percent of the FMR. If the Final Comparable Gross Rent Potential is:

  1. Greater than 150 percent of the FMR Potential, set the New Section 8 Gross Rents at 150 percent of the FMRs.

  2. Equal to or less than 150 percent of the FMR Potential, set the New Section 8 Gross Rents at the Final Comparable Gross Rents.

Owners and Contract Administrators can use the fillable worksheets at the website listed above.

• B. Non-Section 8 and not expiring contract rents. MUTM has no effect on the rents of the non-Section 8 units or the Section 8 units in a Section 8 contract/stage that is not currently expiring.