RAD Enhancements Make Section 8 Mod Rehab SRO Property Conversions More Manageable for Owners
With the publication of the revised Rental Assistance Demonstration (RAD) notice on September 5, 2019, we have made the conversion process more manageable for owners interested in converting their Section 8 Moderate Rehabilitation Single Room Occupancy (Mod Rehab SRO) properties through RAD.
The provisions in the revised RAD notice:
Streamline Capital Needs Assessment (CNA) requirements for Mod Rehab SRO conversion to eliminate the submission of the CNA e-tool under certain circumstances
Streamline the Conversion Plan (Financing Plan) requirements for Mod Rehab SRO conversion if specific criteria are met
Create an ability for Mod Rehab SRO properties converting to Project-Based Rental Assistance (PBRA) to utilize contract rents based on the condition of the property following rehabilitation
Provide the ability for owners of converting SRO properties serving the homeless to establish a leasing or occupancy preference that facilitates permanent supportive housing
If you know of an owner who would like assistance in learning more about RAD, how it can help their property, and the steps of the conversion process, please have them contact HUD via email at email@example.com. In addition, owners and Continuums of Care may sign up for a consultation with a HUD specialist to learn more about RAD through a Mod Rehab Talk session. You or owners may also contact the Office of Recapitalization at firstname.lastname@example.org with any questions or to discuss specific properties.
RAD Team Office of Recapitalization Office of Multifamily Housing Programs U.S. Department of Housing and Urban Development