CMHA requirements - hard to raise rents?

[Nicole S.]

Hi BP'ers!

I have made an offer on a duplex in Euclid, OH that was accepted. I just found out both tenants have been there 7 years on CMHA leases. The current rents are $100-150 under market rent with one ending in March 2019 and the other not until June. 

Does anyone have experience with the CMHA program? How hard is it to raise rents? Any other CMHA hoops I should be aware of?

Thanks in advance! 

Nicole

[Laurence K.]

You can't just raise rents, the CMHA have to approve any increases.
Normally they have a fairly inflexible rate they offer depending on sq ft, br's and ba's. These amounts are on their website.
The amount they pay is always below market.