RECALL: If a Rent Study’s Median Rent is GREATER than 140% of the Zip Code Median Rent, then HUD conducts a Rent Study
Owner’s have seen rents DECREASE after the NO-APPEAL HUD Rent Study is conducted.
Owner’s CAN submit a Waiver to move the threshold up to 150% of the Median.
As Nixon Peabody posted, HUD expanded its criteria for granting waivers in a September memo from OAMPO Acting Director, Brian A. Murray.
The new guidelines allow owners to request a waiver IF the RENT STUDY’S Median Rent is either:
- BELOW 150% of Median Zip Code Rent
- BELOW 120% of FMR for the Median unit type
Owners submit waiver requests to the HUD Regional Director.