Clarendon is proud to announce the renewal of our contract with the U.S. Department of Housing and Urban Development (HUD) to provide Section 8 Rent Comparability Studies (RCS) for the Northeast Region of the United States. This region, headquartered in New York City, encompasses 14 states: Connecticut, Delaware, District of Columbia, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, Vermont, Virginia, and West Virginia.
Our extensive expertise and insights into the U.S. Northeast rental market continue to drive our commitment to delivering accurate and reliable RCS. These studies are crucial for determining market rents, which influence the renewal of Section 8 contracts and the provision of affordable housing.
HUD mandates Rent Comparability Studies (RCS) to review and renew most Section 8 contracts. The market rents derived from these studies dictate the rental income owners can receive under the program, significantly impacting their decision to renew Section 8 contracts or transition to market rent housing. Additionally, these market rents play a vital role in HUD’s expenditure on Section 8 project-based subsidies.
For more detailed information on Rent Comparability Studies (RCS) and the market rent threshold test, read our article "HUD Introduces New 150% Mandatory Market Rent Threshold Test."
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