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HUD Update: HUD Issues 2020 RAD Contract Rents

15 December 2020
 December 15, 2020
Category HUD News, News
Updated RAD Rents Now Available. HUD has just posted the 2020 RAD Contract Rents, which are used to determine the initial contract rents in the Section 8 Housing Assistance Payment (HAP) contract for public housing properties converting under RAD. HUD will utilize these amounts for any new awards starting January 1, 2021. In addition, current awardees that have not yet closed may request to update rents in their existing Commitments to enter into HAP (CHAPs) by contacting their assigned Transaction Manager, Closing Coordinator, or RAD Rents are re-established every two years based on public housing Congressional appropriations levels. We strongly recommend that PHAs review these 2020 RAD rents to evaluate whether these new levels best position properties for long-term preservation.

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