HUD Releases 2013 Annual Adjustment Factors
On May 22, HUD released Annual Adjustment Factors (AAFs) for the Section 8 Housing Assistance Payments (HAP) program for fiscal year 2013. The AAFs, published annually by HUD in the Federal Register, are used to adjust contract rents for units during the initial term of the HAP contract and for all units that are in the Project-Based Certificate program.
The factors are based on a formula using residential rent and utility cost changes from the most recent annual Bureau of Labor Statistics Consumer Price Index (CPI) survey. Owners who participate in HAP programs such as the New Construction, Substantial Rehabilitation, and Moderate Rehabilitation programs; Loan Management and Property Disposition programs; and the Project-Based Certificate program must provide annual adjustments to monthly rentals for units covered by the contracts.
For more information on the adjustment factors, go to www.huduser.org/portal/datasets/aaf.html.