TEMPLE - About 10 percent of residents of Temple and Belton apartments managed by the Central Texas Housing Consortium face significant rent increases because of new guidelines set by the federal Department of Housing and Urban Development (HUD).
HUD’s amendment requires that PHAs set their flat rent no lower than 80 percent of what HUD considers to be the fair market value for the area. Fair market rent values are based on area rents and are reviewed and set by HUD annually.
The good news is that any rent increases will be delayed until October 1, giving residents who are affected time to consider other options, said Barbara Bozon, executive director of the consortium.
HUD has also capped the one-year increase to no more than 35 percent above current rents.
HUD’s intent is to ensure the housing authorities, which receive federal funds, are getting a reasonable rent for those properties.
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