N.J. Admin. Code § 5:80-26.13

Current through Register Vol. 56, No. 21, November 4, 2024

Section 5:80-26.13 - Tenant income eligibility

(a) Low-income rental units shall be reserved for households with a gross household income less than or equal to 50 percent of median income. Moderate income rental units shall be reserved for households with a gross household income less than 80 percent of median income.

(b) The administrative agent shall certify a household as eligible for a restricted rental unit when the household is a low-income household or a moderate-income household, as applicable to the unit, and the rent proposed for the unit does not exceed 35 percent (40 percent for age-restricted units) of the household's eligible monthly income as determined pursuant to 5:80-26.16; provided, however, that this limit may be exceeded if one or more of the following circumstances exists:

1. The household currently pays more than 35 percent (40 percent for households eligible for age-restricted units) of its gross household income for rent and the proposed rent will reduce its housing costs;

2. The household has consistently paid more than 35 percent (40 percent for households eligible for age-restricted units) of eligible monthly income for rent in the past and has proven its ability to pay;

3. The household is currently in substandard or overcrowded living conditions;

4. The household documents the existence of assets, with which the household proposes to supplement the rent payments; or

5. The household documents proposed third-party assistance from an outside source such as a family member in a form acceptable to the administrative agent and the owner of the unit.

(c) The applicant shall file documentation sufficient to establish the existence of the circumstances in (b) above with the administrative agent, who shall counsel the household on budgeting.

N.J. Admin. Code § 5:80-26.13

Amended by R.2004 d.475, effective 12/20/2004.
See: 36 New Jersey Register 3655(a), 36 New Jersey Register 5713(a).
Rewrote (a); in (b), amended the N.J.A.C. reference and substituted "may" for "shall" in the last sentence of the introductory paragraph.