Get Attachment 5 Projects Preparing A Budget-based Rent Increase Guidance For Preparing A Budget-based

This guide provides comprehensive instructions for filling out the Attachment 5 form related to budget-based rent increases. Following these steps will help ensure a complete and accurate submission.

Follow the steps to successfully complete the Attachment 5 form online.

1. Click ‘Get Form’ button to retrieve the form and open it in the editing interface.
2. Begin by filling out the section regarding the allowance for owner distribution. This involves determining the initial owner equity based on the information from HUD Form 92264 or certifying the amount if that form is unavailable.
3. For Section 515/8 projects, calculate 8% of the initial owner equity by using the following formula: Initial Owner Equity x 0.08. Fill in the calculated amount in the provided space for Allowance for Owner Return/Distribution.
4. For elderly projects, apply the formula 'Initial Owner Equity x 0.06' to determine the allowance for owner return/distribution and fill the amount in the respective section.
5. For family projects, use the calculation 'Initial Owner Equity x 0.10' and enter the result in the designated area for owner return/distribution.
6. Complete the certification statement at the end of the form by providing the owner's signature and the date to confirm accuracy.
7. Once all sections are completed, users can save changes, download, print, or share the form as needed.

Complete your budget-based rent increase documentation online today.