Agencies struggle constantly to find up-to-date data on the private rental market to guide these decisions. If they use old or poor-quality data, they end up approving rents that are too high or too low. If they do not document their decisions adequately, they are at risk in HUD audits.
Novogradac can provide a practical, cost-effective way for agencies to remedy these headaches. Once under contract to a PHA or group of PHAs, Novogradac staff will help in many ways.
• Collect representative rental market data
• Analyze the market data statistically and customize a rent calculator that will suggest an appropriate rent for each new HCV unit
• Provide the PHA(s) password access to a web site where the customized database and rent calculator are maintained (via a web browser supplied by PHA)
• Train PHA staff on site
• Provide complete system documentation
• Assign a direct point of contact to provide customer support