Crystal Springs (TX)

What Crystal Springs (TX)'s governing documents say

This is a regulatory agreement, not a homeowner association rulebook. It applies to Crystal Springs Apartments, a 387-unit multifamily rental community in Fort Worth, TX. The agreement imposes affordability restrictions on the landlord, not on residents: most units must be rented to households earning under certain percentages of area median income, and rents are capped accordingly. This guide is for prospective renters to understand the property's income and rent rules.

• Affordability requirements: At least 90% of units must be leased to households earning less than 140% of the area median income, and at least 50% must be leased to households earning less than 80% of AMI. These percentages are calculated annually.
• Rent limits: Rents for affordable units are capped at 30% of the applicable income limit (80% or 140% of AMI), divided by 12, as calculated by the Novogradac Rent and Income Limit Calculator.
• Housing Choice Vouchers: The landlord must accept Housing Choice Vouchers and cannot discriminate against tenants based on source of income. For voucher holders, the income requirement is 2.5 times the portion of rent not paid by the voucher.
• Income verification: Tenants must provide initial and annual income certifications, and the landlord may verify via pay stubs, tax returns, credit checks, or other means. Each lease must disclose that income is subject to annual recertification.
• No condo conversion: During the term of this agreement, the landlord cannot convert the property to a condominium regime or cooperative ownership.
• Term of agreement: The agreement remains in effect as long as the housing finance corporation owns the land or the project, and it automatically terminates if the ground lease ends.

Plain-language summary generated from the governing documents on file for this community. It may be incomplete and is not legal advice — read the full documents below or consult the official recorded versions.