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Contract Renewals

Accurate and timely processing of contract renewal requests is of the utmost importance in order to avoid delays in subsidy payments. SHCC works with property owners throughout the renewal process to ensure that their request is prepared timely and in accordance with HUD guidelines. The renewal request is due to SHCC 120 days before the contract expires. To help you remember to prepare your submission, we will send a reminder letter two months prior to the due date. We encourage you to start preparing as soon as you receive SHCC's reminder letter as this can be a time consuming process.

There are six renewal options from which to choose:

  1. Request Renewal Under The Mark Up To Market Procedure
  2. Request Renewal of Contracts with Current Rents At Or Below Comparable Market Rents
  3. Request Referral to HUD's Office of Recapitalization (Recap)
  4. Request Renewal for Projects Exempted From Recap
  5. Request Renewal of Portfolio Reengineering Demonstration or Preservation Contract
  6. Notification of Intention to Opt Out of the Section 8 Contract

Tools

Choosing from these options can be daunting, especially if you have not done it before. Below are several tools to assist you with this process.

Don't know which renewal option to choose? Contact your SHCC Financial Analyst.

Don't forget!

Twelve months before your contract expires, you must notify your residents of your intention to renew or not renew the contract. See sample Notices of Intent:

Rent Adjustments

Depending on which renewal option you choose, you may be eligible to submit a Rent Adjustment request. Also, if your property has a Utility Allowance, you will be required to perform a Utility Allowance Analysis with each request for a rent adjustment.