Clarendon Awarded U.S. Northeast Contract
Clarendon was awarded a contract with the U. S. Department of Housing and Urban Development (HUD) to provide Section 8 Rent Comparability Studies for the Northeast Region of the United States. The region is based in New York City and includes the following 14 states: Connecticut, Delaware, District of Columbia, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, Vermont, Virginia and West Virginia.
Section 8 laws and administrative procedures require HUD to obtain and review Rent Comparability Studies (RCS) when initially renewing most Section 8 contracts and when processing some rent increase using the Annual Adjustment Factors. The market rents resulting from these studies determine the rents owners can receive and, hence greatly influence whether an owner will renew and continue providing assisted housing or optout of the Section 8 contract and convert to unassisted, market rent housing. The market rents set in these studies also drive HUD’s outlays for Section 8 project-based subsidy.
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Clarendon offers a full range of affordable housing valuation products and services including:
HUD Section 8 Rent Comparability Studies
LIHTC Market Studies
Rent Reasonableness Studies
Flat Rent Studies
To learn more about Clarendon’s services, please click here.
ABOUT THE U. S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
The U.S. Department of Housing and Urban Development’s (HUD) mission is to create strong, sustainable, inclusive communities and quality affordable homes for all. HUD is working to strengthen the housing market to bolster the economy and protect consumers; meet the need for quality affordable rental homes; utilize housing as a platform for improving quality of life; build inclusive and sustainable communities free from discrimination, and transform the way HUD does business.
Clarendon, headquartered in Cleveland, Ohio, specializes in Affordable Housing Valuation, Market Studies, Research, Development Support and Investment Sales services for public and private clients in major markets nationwide.
Clarendon has been awarded contracts with the U.S. Department of Housing and Urban Development (HUD), including the New York, Boston, New Jersey and Baltimore offices. These contracts required the completion of a high volume of Rent Studies for family and senior housing, with HUD as an intended user. Clarendon has also been awarded contracts to provide Reviews of HUD Section 8 Rent Comparability Studies for the states of Connecticut, Massachusetts, Michigan and Pennsylvania.
Clarendon is a certified WOSB, MWBE and we believe in a firm commitment to diversity and giving back to the communities that we live and work in. To learn more about our Real Estate Training Programs, click here.