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FAQ’s on Affordable Housing
Frequently Asked Questions
If you have additional concerns or specific questions regarding your lease, please call our Property Management office number at 312-248-8355 or send us an email at [email protected].
Will my rent increase on a yearly basis?
Rent increases are in compliance with affordable housing programs. All tenants will be given 30 days notice of future rent increases along with the effective date.
My rent went up, but my income didn’t. How does that work?
Most units that we manage are not funded by income-based programs, which means that rent levels are set when you first qualify for the unit. If your income goes up or down, your rent is controlled for limited increases based on your initial income. Each unit is assigned a specific designation based on a tenant’s household income (for example, 30% AMI, 40%, 50%, etc.). Each year, the City of Chicago and the Illinois Housing Development Authority provide unit rent limits based on AMI, which typically take effect in June.
My unit is the same as my neighbors. Why is there a difference in our rent?
As stated above, rents are based on an AMI designation assigned to each unit. Our affordable housing properties contain a mix of different AMI designations. This means that it is possible for the same unit type (for example, a 2-bedroom unit) to have different rent amounts (30% AMI rent or 60% AMI rent) for occupants with different incomes.
I anticipate having trouble paying my rent in the future. What should I do?
Please notify your property manager. TRP offers resources and services designed to help tenants, including rental assistance programs, budget counseling, and more.
