Register now to get a first look at the latest enhancements to the new rent reasonableness software, RentWatch5. Improvements include better methodology for selecting comparables, increased performance speed, advanced address verification and much more.
Today at the HUD User website, the Department of Housing and Urban Development (HUD) published the final fair market rents (FMRs) for federal fiscal year (FFY) 2016. The final 2016 FMRs will also be published tomorrow in the Federal Register. Below are direct links to the HUD User files containing the components of the 2016 final FMR data set:
Nan McKay and Associates is a proud partner of GoSection8.com, the largest rental listing service for the Section 8 housing program, serving tenants, landlords, and public housing agencies across the United States since 2004. Go8's rent reasonableness software experts will be presenting the following session at the 2015 NMA and GoSection8 Housing Conference.
As we reported earlier this week, HUD has issued two notices concerning changes to the flat rent rule included in the fiscal year (FY) 2015 appropriations act: an interim rule published Tuesday, and Notice PIH 2015-13, published Wednesday. The notices offer PHAs two methods for setting flat rents at a lower level than 80 percent of the applicable fair market rent (FMR): by utilizing an FMR for a smaller geographic area, or by requesting an exception flat rent from HUD.
Yesterday HUD posted Notice PIH 2015-13, "Changes to Flat Rent Requirements — FY 2015 Appropriations Act." The nine-page notice follows Tuesday’s publication of the interim rule on "Streamlining Administrative Regulations for Public Housing: Revisions to Public Housing Flat Rents." In addition to providing supplemental guidance and clarification on the interim rule, yesterday's notice replaces Notice PIH 2014-12.