The Department of Housing and Urban Development (HUD) released its rent reform proposal earlier today–titled “Making Affordable Housing Work Act of 2018.” The President’s previously released proposed FY 2019 budget anticipated certain rent reform proposals, though at the time of the proposed budget’s release, these proposals were unknown. The Department has now released its proposal.
In a press release accompanying the proposal, HUD states that “a simplified structure of ‘core rents’ that offers a more transparent and predictable rent calculation . . . is easier for both landlords and tenants to understand.” It also states that “HUD will . . . create a menu of ‘choice rents’ that PHAs and owners may implement to promote greater flexibility, local control, and self-sufficiency for non-elderly/non-disabled households.”
NAHRO staff is in the process of reading through the legislation and will provide additional information in the near future.
The full press release can be found here.
The full legislative text can be found here.
[5/1/18 – NAHRO members can find a full summary of the legislation here. (You must be logged in to view this page.)]