HUD Rent Comparability Studies
HUD rent comparability studies are used to determine rent for Section 8 apartment units and in conjunction with the HUD “Mark to Market” program.
Requirements for preparing HUD Rent Comparability studies are voluminous and strict. HUD Rent Comparability Studies require adjustments for a large number of factors including:
- Number of bathrooms;
- Number of bedrooms;
- Square feet;
- Year built;
HUD Rent Comparability Studies include a detailed spreadsheet for each floor plan in the apartment complex. When estimating market rent for most apartment complexes the appraiser or market analyst has the benefit of considering both rent comparables and recent arm’s length leases at the subject property. However, since there are no arm’s length lease transactions at many apartment complexes with HUD residents, the appraiser is limited to considering data for the rent comparables (adjusted to the subject property). Having this data available (i.e. no arm’s length leases at the subject property) adds to the challenge of preparing HUD Rent Comparable Studies. (Appraisers have an idiom that “the best comparable is the subject.”)
O’Connor & Associates has prepared hundreds of HUD Rent Comparability Studies, in addition to hundreds of HUD MAP market studies and appraisals and HUD Mark to Market appraisals.
O’Connor & Associates is the largest independent appraisal firm in the southwestern US and has over 40 full-time staff members engaged full-time in valuation and market study assignments. Their expertise includes HUD rent comparability studies, HUD MAP market studies and appraisals, HUD Mark to Market appraisals, feasibility studies, valuing real estate, business personal property, business enterprise value, purchase price allocation for businesses, valuation for property tax assignments, partial interest valuation, estate tax valuation, expert witness testimony and valuation for condemnation. They have performed hundreds of HUD rent comparability studies.
To obtain a quote or further information for a HUD Rent Comparability Studies, contact John Fisher at 713-375-4300, 1-800-856-7325 x 4300, or fill out our online form.