As a group of tenants working together you have more power than an individual tenant working alone. If your owner has refused to meet with you or has broken a lot of promises in the past, you should let HUD know. After the 2 month comment period, and within 6 months of submission of the plan, HUD can either approve or deny the plan. If they approve the plan, HUD must make the subsidies available within 3 months. It's important to make sure that you have contact with a HUD representative to ensure that HUD meets the deadline.
Owner first files a notice of intent to terminate.
HUD then has six months to notify the owner and tell them what they need to submit in order for HUD to approve the conversion. The plan of action will attempt to prove that there is no need for affordable housing in your area. The two months following the submission of the plan of action is the public comment period. HUD must approve or deny the plan of action within 6 months of its submission. If HUD approves the plan, the rents can go up to market rate housing.