Rent Reasonableness Market Analysis
DHA contracts with Social Serve, to conduct market analysis used in determining rent reasonableness. Non-assisted units are entered into Social Serve’s database so DHA may find the units most like the assisted (or potential) unit and compare the rents.
Rent reasonableness is calculated at the time of the initial inspection or when a rent increase is requested. If the requested rent exceeds the rent reasonableness, the rent will need to be reduced to the market area rent to execute the Lease and Contract. If the landlord disagrees, the participant will not be able to lease the unit.
There are seven factors that determine rent reasonableness:
3. Type of unit
4. Square footage
5. Number of bathrooms
6. Year built