24 CFR 982.623 - Manufactured home space rental: Housing assistance payment.
|Updated to:||April 2013|
Title 24: Housing and Urban DevelopmentCHAPTER IX: OFFICE OF ASSISTANT SECRETARY FOR PUBLIC AND INDIAN HOUSING, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT PART 982: SECTION 8 TENANT-BASED ASSISTANCE: HOUSING CHOICE VOUCHER PROGRAM Subpart M: Special Housing Types : Manufactured Home Space Rental 982.623 - Manufactured home space rental: Housing assistance payment. (a) Housing assistance payment: For certificate tenancy. (1) During the term of a certificate tenancy (entered prior to the merger date), the amount of the monthly housing assistance payment equals the lesser of the amounts specified in paragraphs (b)(1)(i) or (b)(1)(ii) of this section: (i) Manufactured home space cost minus the total tenant payment. (ii) The rent to owner for the manufactured home space. (2) ?Manufactured home space cost? means the sum of: (i) The amortization cost, (ii) The utility allowance, and (iii) The rent to owner for the manufactured home space. (3) Amortization cost. (i) The amortization cost may include debt service to amortize cost (other than furniture costs) included in the purchase price of the manufactured home. The debt service includes the payment for principal and interest on the loan. The debt service amount must be reduced by 15 percent to exclude debt service to amortize the cost of furniture, unless the PHA determines that furniture was not included in the purchase price. (ii) The amount of the amortization cost is the debt service established at time of application to a lender for financing purchase of the manufactured home if monthly payments are still being made. Any increase in debt service due to refinancing after purchase of the home is not included in amortization cost. (iii) Debt service for set-up charges incurred by a family that relocates its home may be included in the monthly amortization payment made by the family. In addition, set-up charges incurred before the family became an assisted family may be included in the amortization cost if monthly payments are still being made to amortize such charges. (b) Housing assistance payment for voucher tenancy. (1) There is a separate fair market rent for a manufactured home space. The FMR for a manufactured home space is determined in accordance with ? 888.113(e) of this title. The FMR for a manufactured home space is generally 40 percent of the published FMR for a two-bedroom unit. (2) The payment standard shall be determined in accordance with ? 982.505. (3) The PHA shall pay a monthly housing assistance payment on behalf of the family that is equal to the lower of: (i) The payment standard minus the total tenant payment; or (ii) The rent paid for rental of the real property on which the manufactured home owned by the family is located (?space rent?) minus the total tenant payment. (4) The space rent is the sum of the following as determined by the PHA: (i) Rent to owner for the manufactured home space; (ii) Owner maintenance and management charges for the space; (iii) The utility allowance for tenant-paid utilities. [64 FR 26651, May 14, 1999; 64 FR 49659, Sept. 14, 1999; 64 FR 56915, Oct. 21, 1999]