Clarendon Awarded Michigan Contract
Clarendon awarded contract with Michigan Multifamily Asset Managers (MMAM) to provide Reviews of HUD Section 8 Rent Comparability Studies (RCS) for the State of Michigan.
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 Valuation Advisors 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
- Development Support
To learn more about Clarendon Valuation Advisors’ services, please click here.
ABOUT MULTIFAMILY ASSET MANAGERS
Multifamily Asset Managers through its affiliates, Pennsylvania Multifamily Asset Managers (PMAM) and Michigan Multifamily Asset Managers (MMAM) has successfully performed the major Incentive-Based Performance Standards, for the Section 8 Performance Based Contract Administration of over 80,000 units and over 900 Section 8 contracts in Michigan and Pennsylvania for over a decade.
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 Pennsylvania and Michigan.
Clarendon is a certified 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.