DCHA has the right to change the approved rents for any submarket at any time.
TThe HCVP submarket rents have been updated as a result of a new market comparable analysis. The rents currently displayed shall be applied to any request for move-in package or rent increase request submitted on or after April 1, 2015.
HCVP Submarket Rent Methodology Disclosure
Typically in October to December of each calendar year HCVP conducts a rental market
analysis of the unassisted rented units in District of Columbia. Unassisted comparables
do not include any units rented that are tax credit, subsidized with local funds,
or subsidized with Federal funds (including existing voucher assisted units). HCVP
will only review unassisted units rented in that legal submarket (i.e. Anacostia,
Capitol Hill..). HCVP utilizes resources from an unbiased legal searchable database
(that includes the MRIS database/Realtor MLS), validation of market rents paid from
conducting a canvass of the submarket asking market tenants what they are paying,
or data that has been validated to determine what is a market rent in each submarket
– with/without utilities included. Because the approved HCVP submarket rent without
utilities uses the average utility allowance of units that are not all electric;
the approved rent to the owner for a unit that is all electric may be slightly less
where the family is responsible for utilities than what is advertised. The HCVP
will provide to the family and/or owner what the approved submarket rent to the
owner for units where the family is responsible for utilities of an all electric
dwelling at the time of Request for Tenancy Approval (RFTA) package is submitted
to HCVP. HCVP may adjust each submarket rent annually or if it determines the submarket
rents have gone up or down by 10% or more.