- Property Owners & Managers
- About OHFA
Providing Housing Resources With an Eagerness to Serve
The Auto Operating Cost Adjustment Factor (OCAF) Rent Adjustment process is initiated by HUD or the Contract Administrator. Not all contracts are eligible for the Auto OCAF.
If the property is eligible for an Auto OCAF rent adjustment, OHFA will send the owner information each year. One hundred and fifty days prior to the property’s renewal anniversary, OHFA will send the owner a letter advising of the property’s new OCAF adjusted rents, a new Exhibit A, and a request for certification of the accuracy of the debt service and non-Section 8 rent potential amounts. To accept the Auto OCAF rent increase, the owner will need to return to OHFA the signed/dated certification and three copies of Form HUD-92458 Rent Schedule within 10 days so that the process can be completed.
If the property is not eligible for the Auto OCAF, the process will be initiated by the Owner each year. One hundred and twenty days prior to the property’s renewal anniversary, the owner must submit the completed OCAF Rent Adjustment request to OHFA. We will process the request under the original OCAF procedures.
Owners may request Budget Based rent adjustments for properties with HAP contracts that are eligible during the term of the contract or at contract renewal.
Submission to request a rent increase should include all of the materials listed below, plus any additional documents being used to support the request.
The checklist for initial submission is below. Submission to request a rent increase should include the materials listed on the checklist plus any additional documents being used to support the request.
Refer to the HUD Handbook 4350.1, REV-1, Multifamily Asset Management and Project Servicing, Chapter 7 for detailed guidance and owner submission requirements.