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Contract Renewal
- Q & A Guide
Don't know which Renewal Option to use? Use this
Question & Answer Guide to figure out the right Option.
- Options
A complete explanation of all the Contract Renewal
Options.
- Forms
Download forms.
- Section 8 Renewal
Policy Revisions - January 15, 2008
HUD published revisions to the Section 8 Renewal Policy. You can access
the revised Renewal Policy Guide and all associated material by clicking
on the link above.
- Section
8 Renewal Policy Revisions - December 12, 2006
An explanation of changes is included with the revised pages. NOTE: A significant
clarification has been made in Chapter Six, for renewal of Section 8 contracts
under Option 4. Under the new guidance, the "lesser of" test applies
to each contract renewal, which includes Initial and Subsequent
renewals. The "lesser of" test continues not
to apply during Amend Rent Only years for multiyear HAP Contracts. Per guidance
from HUD Headquarters, the policy is effective April 19, 2007. An owner
selecting Option 4 and submitting the renewal package on or before April
19, 2007 is exempted from the "lesser of" test for Subsequent
Renewals. The exception to this principle is the owner submitting a subsequent
renewal package earlier than 120 days before the contract expiration date,
for example 200 days, to avoid the "lesser of" test. They must
comply with the new instructions. Click on the link above to access the
12-12-06 Renewal Policy Revisions.
- Section 8 Renewal Policy Revisions - May 5, 2006
HUD published revisions to the Section 8 Renewal Policy. The revisions
will have a significant effect on properties to which they apply. The changes:
(1) Remove the restriction on switching from Option 2 to Option 4; (2) Allow
the local Program Center, rather than Headquarters, to approve discretionary
Mark-Up-To-Market requests (Renewal Option 1B); (3) Allow Preservation properties
to renew their contracts for up to 20 years, depending on the term of the
Use Agreement; and (4) Reiterate the rule that Preservation properties must
renew under Option 5. Click on the link above to access the 05-05-06 Renewal
Policy Revisions.
Renewal Question & Answer Guide
This Guide will lead you through a series of questions to assist you in determining
your best option for renewal.
Have the following available as you use the Guide:
- Rent Comparability Study (if Applicable)
- Fair Market Rents
- Current Contract Rents
Start with the first question...
If you already
know which Option is right for you, see Contract
Renewal Options below.