On Monday, November 15, 2021, HUD issued a RCS Clarification memo for Multifamily Owners and Agents and Section 8 Contract Administrators on Valuation of Non-Shelter Services.

"In valuing services at a subject property, an appraiser must (1) determine how the services are offered and funded, (2) select comparable properties that make services available similar in type and funding source to those at the subject property, and (3) assign a market value to the services offered at the subject property. This valuation informs the appraiser’s determination of market comparable rents for a Section 8–assisted property."

This memorandum clarifies existing policies with respect to these activities and serves as a complement to Chapter 9 of the Section 8 Renewal Policy Guidebook (the Guide).