§ 31.24. Rental surcharges.
(a) In the event the maximum family income of a moderate family occupying a rental housing unit permanently financed by the Agency increases after initial occupancy so that it exceeds 125% of the allowable income limit established in § 31.22 (relating to income limits), a rental surcharge shall be charged the family in accordance with the following schedule:
SURCHARGE SCHEDULE
Adjusted Family Income As
A Percentage of
Maximum Adjusted Income
for Initial
Occupancy of PremisesRent Surcharge As
A Percentage of Rent0.0% to 125% None 125% to 130% 4.0% 130% to 135% 6.0% 135% to 140% 8.0% 140% or greater 10%
(b) A rental charge shall be charged prospectively only and shall not be imposed until the family completes its first lease year. The family shall pay 1/12 of the rent surcharge along with the monthly rent payment on the first calendar month after receipt of notice from mortgagor requiring this in accordance with the surcharge schedule set forth in subsection (a).
(c) The mortgagor shall proportionately reduce the amount of any rental surcharge imposed on a tenant under this section in the event that the adjusted family income of such tenant decreases during the 12-month period after the date of the last prior increase in the adjusted family income.
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