Rent Comparability Studies

Our Rent Comparability Studies (RCS) are completed in conformance with the Section 8 Renewal Policy Guidebook issued by The United States Department of Housing and Urban Development (HUD). Health Care Valuation Advisors (HCVA) completes an appraisal of the market rents for a subsidized property as part of a Mark-to-Market requirement of Section 8 Renewal Guidebook. We compare similar market rents by unit type in the local market area to the subject property to determine the most accurate unrestricted market rent at that time. The property owner uses our opinion of market rent to determine their options for renewing the subject property’s Section 8 contract.

To complete this study, HCVA collects and thoroughly analyzes information about the subject property, including interviews with those directly involved with the property, such as owners and managers, referencing the assessor’s records, and completing a physical inspection of the units and common areas. We conduct a detailed valuation of amenities and extensive research of the comparable and market area data. Information collected and analyzed by HCVA includes municipal services, access to transportation, access to senior services, hospitals, medical facilities, and other community amenities.