1. When should I submit a contract renewal request?

HUD requires the requests to be submitted at least 120 days prior to contract/funding expiration

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2. What is debt service?

Debt service equals Principal + Interest + MIP (if applicable) - IRP (if applicable).

 

3. Can an increase factor (line Q) be less than one?

No, the increase factor must be greater than one.

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4. How do I calculate line N?

Line N is a calculation consisting of line M times one plus the OCAF.

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5. What is the current OCAF rate?

The current OCAF rates can be found here, They are effective on February 11th of the year they are issued for.

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6. Do I have to submit a utility allowance analysis?

Any property with a utility allowance is required to submit an analysis with every contract renewal or rent adjustment. If eligible, the property can accept a factor based UA utilizing the HUD published rates.

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