NAHMA HUD Update: HUD announces 2018 Annual Adjustment Factors - UPDATED HUD LINK
Yesterday, HUD announced fiscal year 2018 Annual Adjustment Factors (AAFs) for adjustment of contract rents on the anniversary of those assistance contracts for months beginning after November 8, 2017.
The factors are based on a formula using residential rent and utility cost changes. AAFs established in the attached notice are used to adjust contract rents for units in certain Section 8 housing assistance payment programs during the initial term of the HAP contract and for all units in the Project-Based Certificate program:
· The Section 8 New Construction, Substantial Rehabilitation, and Moderate Rehabilitation programs;
· The Section 8 Loan Management (LM) and Property Disposition (PD) programs; and
· The Section 8 Project-Based Certificate (PBC) program
AAFs are not used for budget-based rent adjustments; to determine renewal rents after the expiration of the original HAP contract; or to adjust rents in Tenant-Based or the Project-Based Voucher programs.
To view the 2018 Annual Adjustment Factors, please click here (***updated link***). To view the attached notice online, please click here.
Juliana Bilowich, Government Affairs Coordinator
National Affordable Housing Management Association
400 N. Columbus St., Suite 203, Alexandria, VA 22314
Phone 703-683-8630, ext.116 Email firstname.lastname@example.org, Website www.nahma.org
NAHMA is the leading voice for affordable housing management, advocating on behalf of multifamily property managers and owners whose mission is to provide quality affordable housing.