HAP/PRAC Contract Renewal

  • Prepare HAP Contract renewal package including evaluating the renewal options available, recommending a renewal strategy and preparing all required exhibits except Rent Comparability Studies
  • Prepare required notices to tenants / HUD regarding contract status
  • Prepare Annual Adjustment Factor (AAF), Operating Cost Adjustment Factor (OCAF) and Budget Based rent adjustments
  • Update owners on changes in HUD Rules / Regulations regarding HAP Contract renewal
  • Perform Subsidy Management Assessment
  • Advise owners of all noted deficiencies in record keeping, subsidy processing and general compliance
  • Develop and implement training plans to address identified issu
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