HUD is required by law to set Fair Market Rents (FMRs) every year. They represent HUD’s best effort to estimate the 40th percentile gross rent paid by recent movers into standard quality units in each FMR area. With the latest release, FMRs will increase by an average of...
The Affordable Connectivity Program (ACP) was created by Congress in late 2021 and implemented by the Federal Communications Commission (FCC) to replace a previous pandemic-related subsidy program. The FCC recently announced that it will provide a monthly discount of up to $75 toward internet...
Like other real estate businesses, you may be using ChatGPT, Bard, Bing, and other generative AI products, a.k.a. chatbots, for marketing purposes, such as developing advertising strategies, analyzing housing markets, and generating property listings, ads, social media posts, and other marketing...
Remember to redact personally identifiable information (PII) when submitting or transmitting documents to contract administrators. It’s important to protect this information because owners and their employees are subject to penalties for unauthorized disclosure of applicant or resident...
The Joint Center for Housing Studies of Harvard University recently released its annual report, State of the Nation’s Housing 2023. The report combines analyses of data from the U.S. Census Bureau, HUD, Freddie Mac,...
HUD recently announced a nearly $1 billion Rental Assistance Demonstration (RAD) transaction with the New York City Housing Authority (NYCHA) that will enable major upgrades for more than 2,000 affordable rental units in the Bronx. This is the largest transaction to date under the RAD program....
HUD is accepting applications for green retrofit loans and grants until spring of 2024.
HUD is making funding available to support green and resilient retrofits of properties participating in Multifamily Assisted Housing programs. According to HUD, this funding will allow...
In a recent case, a site owner sought to remove a former tenant’s daughter from the site. The owner argued that the daughter isn’t a tenant and has no legal right to remain in the apartment.
The site is financed through HUD’s Section 202 Supportive Housing for Elderly...
The Pew Charitable Trusts recently published a brief that outlines the challenges and opportunities of providing broadband internet access in federally subsidized housing. The brief highlighted HUD programs such as ConnectHOMEUSA and the use of pandemic funding to accelerate broadband deployment...
Climate-related disasters impact millions of Americans annually when roads wash out, power goes down, crops fail, and schools flood. The Federal Flood Risk Management Standard (FFRMS) was established to encourage federal agencies to consider and manage current and future flood risks. FFRMS...
In September 2021, after an onsite review of a 150-unit project-based Section 8 property in Waukegan, Ill., discovered deplorable conditions at the site, HUD initiated an administrative action against the owner and management agent for failing to provide decent, safe, and sanitary conditions to...
