Rent Calculation: All Correct Solutions and Questions Provided

A
VI
TU
IS
M
O
A



Rent Calculation: All
N
JP




Correct Solutions and
Questions Provided

, A tenant is paid biweekly. We should multiply the average amount of pay by __ to
annualize the income. - ANSWER 26

A tenant is paid semimonthly. We should multiply the average amount of pay by __ to
annualize the income. - ANSWER 24

A tenant is paid weekly. We should multiply the average amount of pay by __ to




A
annualize the income. - ANSWER 52




VI
A tenant is paid monthly. We should multiply the average amount of pay by __ to
annualize the income. - ANSWER 12




TU
A tenant is paid hourly. We should multiply the average amount of pay by __ to
annualize the income. - ANSWER Multiply hourly wages by the number of hours
worked/year (2080 hours for full-time employment with a 40-hour work week and no
overtime)
IS
Do we include income from a live-in aide? - ANSWER No
M
Do we include income from children under 18 years of age? - ANSWER No

Can we consider the HOH, spouse, or cohead as a full-time student? - ANSWER No
O


Should the PHA use the gross or net amount of employment income (not
self-employed) in the calculation? - ANSWER Gross
A



Is income earned by a day laborer considered nonrecurring income? - ANSWER
N




No.
JP




Earnings of seasonal workers or day laborers are included in annual income, even if the
source, date, or amount of the income varies.

Annual income includes (gross/net) income from the operation of a business or through
self-employment. - ANSWER net for self-employment

Are independent contractors considered self-employed? - ANSWER Yes. Include
the net income in annual income.