Chapter 7 Exhibit 7L Rent Schedule Requirement Form 2025

1. Click ‘Get Form’ to open the Chapter 7 Exhibit 7L Rent Schedule Requirement Form in our platform.
2. Begin by entering the effective date of the proposed schedule at the top of the form. This is crucial for establishing the timeline for your rent schedule.
3. Fill in your name and phone number as the schedule preparer. This information helps maintain clear communication regarding the form.
4. If applicable, indicate which Rural Development Loan Program is used by marking RD 513, RD 515, or RD 538.
5. Specify whether tenants pay for utilities at the project by selecting 'Yes' or 'No'. If 'Yes', attach a Utility Schedule identifying tenant-paid utilities.
6. Indicate the mix of HOME-assisted units by filling out the unit types (0 Bed to 6 Bed) and total number of HOME units.
7. Provide maximum HOME rent limits based on your project area using the provided table, ensuring accuracy for compliance.
8. If applicable, complete the section for Low Income Housing Tax Credit rent limits, including effective dates and unit types.
9. Finally, review and sign off on the proposed rent structure section, ensuring all necessary approvals are documented before submission.

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