Property owners often ask ... “How does CHA determine the rent offer amount? What factors are taken into consideration?”

There are three main factors that CHA considers during the rent determination process: the property owner's asking rent, the market rent (as determined by a market analysis study) and the HCV participant family's affordability.

The Property Owner's Asking Rent

Property owners will be asked to provide an "Asking Rent" on the RTA packet as their proposed rent amount. Reminder: Make sure to do your owner research! There are many resources available online on how to set rental rates based on unit amenities, location, etc.

Market Rent

Once the unit passes inspection, CHA conducts an analysis of comparable market-rate units to determine a reasonable “Market Rent." CHA uses AffordableHousing.com to pull comparable data from dozens of reliable, verifiable sources.  

Items that CHA will take into consideration during the rent reasonableness study include unit age, location, condition, market area, structure type, amenities, tenant expenses for utilities and appliances.

HCV Participant Affordability

CHA calculates an HCV participant family’s affordability based on:

• The family’s income, and
• The amount of subsidy the family is eligible to receive.

When calculating the family's income, CHA will determine their Total Tenant Payment (TTP). All the family's consistent income will count toward the TTP. CHA will adjust the family's income if they qualify for deductions. The family may qualify for deductions if they have childcare costs, students or persons with disabilities or medical expenses.

CHA uses the prospective tenant’s income data and the amount of subsidy they are eligible to receive (based on current Payment Standards for their voucher size) to calculate the maximum monthly amount the tenant can afford to pay toward both rent and utilities.

Lastly, CHA will compare the Asking Rent, the Market Rent and the participant family’s Affordable Rent. The rent offer will be lowest of these three amounts.

Remember: It is a rent determination, not rent negotiation. Property owners are encouraged to review the rent offer carefully to ensure the unit information (i.e., bedroom size, utility responsibility) is accurate and notify CHA of any discrepancy before accepting or declining.

July is National Minority Mental Health Awareness Month. This annual observance raises awareness about the unique challenges that affect the mental health of racial and ethnic minority and American Indian/Alaska Native (AI/AN) populations. 

This year, the U.S. Department of Health and Human Services (HHS) Office of Minority Health (OMH) is focusing on improving mental health outcomes for racial and ethnic minority and AI/AN communities through its 2024 theme, Be the Source for Better Health: Improving Health Outcomes Through Our Cultures, Communities, and Connections. This theme calls on each of us to better understand how the unique environments, cultures, histories and circumstances (known as social determinants of health, or “SDOH”) of racial and ethnic minority and AI/AN populations impact their mental health. 

About half of all people in the United States will be diagnosed with a mental disorder at some point in their lifetime, but certain SDOH factors, like experiencing trauma, lacking support systems, and having limited access to health care, can leave racial and ethnic minority and AI/AN people at increased risk for many preventable mental health problems.  

Visit the National Minority Mental Health Awareness Month 2024 website to find resources, social media messages, graphics and information on how to Be the Source for Better Health. 

If you or someone you know needs help with their mental health, contact 988lifeline.org. Call, text or chat 24/7. Free and confidential support is available for people in distress or if you are worried about a loved one who may need crisis support.

Are you familiar with the cooling requirements in the City of Chicago? Hot weather can be dangerous and as a property owner, it's crucial to be familiar with them. When the City heat index exceeds 80 degrees Fahrenheit, certain residential buildings must provide air conditioning in all apartments or have an air conditioned "indoor common gathering area" known as a cooling center. This applies to:

• Buildings operated as "housing for older persons" under the Federal Fair Housing Act
• Buildings with 100 or more apartments
• Buildings more than 80 feet in height (high-rise buildings)

It's also important to make sure your tenants are aware of 3-1-1 and know to contact them in the event of an emergency. Your tenants can use 3-1-1 to:

• Find the location of the nearest City cooling center
• Request a senior well-being check
• Report a violation of the cooling requirements

For more information on residential cooling requirements, visit Chicago.gov/cooling.  

HCV Owner Portal Update

If you've logged in recently, you may have noticed some changes to the HCV Owner Portal, especially if you use the mobile version. Do not adjust your screen! We've upgraded the site and incorporated your feedback to ensure that mobile functionality is similar to what you see on the desktop.

In addition to the slightly updated look (i.e., menu bar, color scheme) and enhanced security, below are just a few of the other changes you'll see:

• Upgraded mobile experience, including:
• Access to the full site menu.
• Availability of inspection result details and photos.
• Ability to export data to Excel or as a PDF.
• Arrow buttons at the bottom of tables so you can easily step through pages of records, as needed.
• Search box, allowing you to locate specific items quickly.
• Advanced filtering options, where you can use filter operators such as 'Is equal to', 'Starts with' and 'Contains'.

To review the updated HCV Owner Portal FAQs, please click here.

Successfully submitting the Request for Tenancy Approval (RTA) packet is one of the most significant steps when leasing up with the HCV Program. It must be completed correctly and in its entirety before the next steps in the leasing process can even begin (and well before the HCV participant family can move into your unit). Even if property owners already rent to HCV participant families, they must complete and submit a new RTA packet at the start of a new tenancy. Below are tips to help ensure your RTA packet is processed in a timely matter.

Carefully Read Each Page of the Packet

The RTA packet is 18 pages long and consists of the following:

• Instruction Pages (page 2 must be completed and submitted to CHA)
• HUD Request for Tenancy Approval (RTA)
• Authorization for the Release of Information (for individual property owners only)
• Lead-Based Paint Disclosure
• Direct Deposit Authorization and IRS Form W-9 (new HCV property owners only)
• Affidavit of Ownership
• Property Owner Certification
• Management Authorization (if applicable)

Missing, incorrect or incomplete information may result in processing delays! Are the utility responsibilities accurate? Is the unit number listed in the address? Double-check the required fields to ensure everything is complete and correct.

Refer to the Timeline

The first page of the RTA packet includes a step-by-step breakdown of each step in the processing timeline and an approximation of how long they will take.

Remember: Once CHA receives the complete and accurate RTA packet, it takes approximately 37 business days, or 7-8 weeks, to process the move.

Include Supporting Documentation

Property owners must register for direct deposit in order to receive the Housing Assistance Payment (HAP) from CHA. The Direct Deposit Authorization form is included in the packet along with instructions as to what is required to accompany the form (i.e., voided check, letter from the financial institution).

As a reminder, unit comparables must be submitted prior to or at the same time as the RTA packet submission. Comparable data submitted to AffordableHousing.com after CHA receives the RTA packet will not be considered during the rent determination process. It is vital that property owners have a clear understanding of the market and use this to determine the 'Requested Rent' or 'Asking Rent' amount field in the RTA packet.

Submit to the Correct Place

Existing HCV property owners can submit RTA packets directly on the HCV Owner Portal. After you log in to your account, click on 'Moves' within the site menu and select 'Upload my RTA' from the drop-down list.

New property owners can submit by email to ownerinfo@thecha.org.

Note: Submission to any other CHA email address or inclusion of other CHA email addresses in the To: or CC: line will only delay processing.

Paperwork Bootcamp

Tuesday, July 23, 1 p.m. to 2:30 p.m. | Register Now

Join CHA staff as they walk through the paperwork required to be a property owner on the HCV Program. This session will primarily focus on correctly completing the RTA Packet and Change of Ownership/Management Packet, but will also cover other important documentation!

Fair Housing 101

Tuesday, August 6, 1 p.m. to 2:30 p.m. | Register Now

Did you know housing in Illinois is governed by different federal, state and city laws? Hear from legal experts as they review the many laws that are in place to promote equal access to rental housing and how fair housing laws may impact you.

Requesting a Rent Increase from CHA

Tuesday, August 13, 1 p.m. to 2:30 p.m. | Register Now

Do you know how to submit a rent increase request? Learn the ins-and-outs of the rent increase process and how to avoid pitfalls that can cause substantial delays.

Financial Literacy

Tuesday, September 10, 1 p.m. to 2:30 p.m. | Register Now

Looking for guidance when it comes to finances? Hear from experts as they discuss steps to financial independence and best practices for making financial decisions. 

Save the Date: 2024 CHA Owner Symposium

Monday, September 23, 8 a.m. to 4 p.m. | In Person and Online via Webex Events

The Owner Symposium is CHA's premier event for Chicago property owners, managers and other real estate professionals. Now in its 15th year, this day-long event features 'back to basics' educational sessions, numerous networking opportunities, and access to dozens of housing industry vendors in the exhibit area.

Registration is scheduled to open this summer, and space for the in-person event will be limited. Visit chaownersymposium.org for the most up-to-date information about the event.

Have leasing-related questions, or want to request a 1:1 consultation?

The HCV Owner Outreach team is here to help. Email owneroutreach@thecha.org. ¡También ofrecemos estos servicios en español!

In Case You Missed It:

• Billionaire Family Behind Walmart Buys Old West Side Women’s Shelter, Will Create Community Space
• HUD Makes $40 Million Available to Prevent Evictions and Prevent Homelessness
• Community Leaders Renew Commitment to Chicago Violence Prevention programs, $100M raised

We appreciate your continued partnership! If you liked this newsletter, or have topic suggestions for newsletter articles or webinars, reply to this email and let us know.

Looking for past editions of Owner News? Find them on the HCV Owner Portal at chahcvportal.org, under the 'Resources' menu.