Contract Renewals
PMCS can help you renew your Section 8 Contract or Project Rental Assistance Contract (PRAC).
There are several options and terms available, depending on your current contract and structure. We will complete HUD Form 9624 Contract Renewal Request, indicating the appropriate option for the determined term.
- OCAF (Operating Cost Adjustment Factor) Rent Increase: Our staff will gather the information needed to complete HUD Form 9625: OCAF Rent Adjustment Worksheet, and calculate your operating cost adjustment for the upcoming contract term. This type of rent increase is based on the published OCAF factor for your state.
- Budget-Based Rent Increase: We will review the property with management to determine if a budget-based rent increase is required, and which items need to be included. We can use the site‘s previous year’s budget as a starting point for the upcoming year’s financial review. In addition to the budgeted figures, PMCS will create and customize several HUD-required documents that are required.
- Utility Allowance Change: Some contracts require Utility Allowance change requests with every contract renewal and/or multi-year Rent Adjustment Request submission. PMCS will gather appropriate tenant utility information, and analyze the data to determine if a Utility Allowance Adjustment is required. If an adjustment is warranted, our staff will complete the necessary Utility Allowance Recommendation Form for submission.
Eligible for a rent adjustment? We will compile the request for you, using any of the following methods (as appropriate):
Our staff includes CPAs, accountants, AHM/COS-certified occupancy specialists and leading industry trainers who have thorough knowledge of accounting, HUD, and Secure Systems - so you can feel secure that all of our services comply with HUD requirements.
Please call us to discuss your site’s needs, and let us prepare a customized proposal.
