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<br /> <br /> <br />Project-based Voucher Program <br />HAP Contract for Existing Housing <br />Previous editions are obsolete <br /> HUD 52530B Page - 4 - <br /> of Part 2 <br /> (04/2015) <br /> <br />4. The owner will be paid the housing assistance payment under the HAP <br />contract on or about the first day of the month for which payment is due, <br />unless the owner and the PHA agree on a later date. <br /> <br />5. To receive housing assistance payments in accordance with the HAP <br />contract, the owner must comply with all the provisions of the HAP <br />contract. Unless the owner complies with all the provisions of the HAP <br />contract, the owner does not have a right to receive housing assistance <br />payments. <br /> <br />6. If the PHA determines that the owner is not entitled to the payment or any <br />part of it, the PHA, in addition to other remedies, may deduct the amount <br />of the overpayment from any amounts due the owner, including amounts <br />due under any other housing assistance payments contract. <br /> <br />7. The owner will notify the PHA promptly of any change of circumstances <br />that would affect the amount of the monthly housing assistance payment, <br />and will return any payment that does not conform to the changed <br />circumstances. <br /> <br />d. Termination of assistance for family <br /> <br />The PHA may terminate housing assistance for a family under the HAP contract <br />in accordance with HUD requirements. The PHA must notify the owner in writing <br />of its decision to terminate housing assistance for the family in such case. <br /> <br />5. ADJUSTMENT OF RENT TO OWNER <br /> <br /> <br />a. PHA determination of adjusted rent <br /> <br />1. At each annual anniversary during the term of the HAP contract, the PHA <br />shall adjust the amount of rent to owner, upon request to the PHA by the <br />owner, in accordance with law and HUD requirements. In addition, the <br />PHA shall adjust the rent to owner when there is a five percent or greater <br />decrease in the published, applicable Fair Market Rent in accordance with <br />24 CFR 983.302. <br /> <br />2. The adjustment of rent to owner shall always be determined in accordance <br />with all HUD requirements. The amount of the rent to owner may be <br />adjusted up or down, in the amount defined by the PHA in accordance <br />with HUD requirements. <br />3-15