NAHMA HUD Update: HUD announces 2020 Annual Adjustment Factors
HUD announced fiscal year 2020 Annual Adjustment Factors (AAFs) for adjustment of contract rents on the anniversary of those assistance contracts for months beginning after December 10, 2019.
HUD announced fiscal year 2020 Annual Adjustment Factors (AAFs) for adjustment of contract rents on the anniversary of those assistance contracts for months beginning after December 10, 2019. The factors are based on a formula using residential rent and utility cost changes; the FY 2020 AAFs are the first to use the revised Bureau of Labor Statistics (BLS) area definitions.
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:
- The Section 8 New Construction, Substantial Rehabilitation, and Moderate Rehabilitation programs
- The Section 8 Loan Management (LM) and Property Disposition (PD) programs
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. A separate Federal Register notice, to be published following the finalization of the FY 2020 federal appropriations process, will be used in the calculation of the calendar year 2020 Housing Choice Voucher renewal funding.
To view the 2020 Annual Adjustment Factors, please click here. To view the attached notice online, please click here.
Juliana Bilowich, Manager of Government Affairs
National Affordable Housing Management Association
400 N. Columbus St., Suite 203, Alexandria, VA 22314
Phone 703-683-8630, ext.116 Email email@example.com, 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.