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To
secure ongoing federal rent subsidies for our tenants we are required
to adhere to certain agency regulations and laws including:
- US Department
of Housing and Urban Development
- NJ Housing
and Mortgage Finance Agency
- NJ Department
of Community Affairs
Ridge Oak Senior
Housing maintains a waiting list of those that are age and income
eligible. The income guidelines for Somerset County are as follows:
Villages
1-11
Upper Income Limit for an Individual = $44,800
Upper Income Limit for a Couple = $51,200
Village
12
Upper Income Limit for an Individual = $35,050
Upper Income Limit for a Couple = $40,050
Many things are considered
when determining eligibility including age, citizenship status,
size of household and income. All potential tenants are required
to disclose all income and asset information. Potential tenants
are subject to previous landlord, criminal background, and credit
checks.
Each tenant must undergo
a re-certification every year to renew his or her lease and to calculate
his or her new rent payment.
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