Anyone Else Been Having Trouble Getting HACC/HAP Rent Increases Approved in Chicago?
I'm curious if anyone else investing in the Chicago area has noticed this recently.
For those working with HACC/HAP (Housing Assistance Payment) tenants, have you been having a harder time getting rent increases approved?
Historically, I haven't had major issues as long as the requested rent was supported by the market. Lately, though, it seems like approvals are taking much longer, requests are getting pushed back more often, or increases aren't keeping pace with current market rents.
A few questions for those actively managing Section 8 properties:
- Are your rent increase requests being approved?
- If so, what percentage increases have you been seeing?
- Are certain neighborhoods or suburbs seeing better results than others?
- Has the process changed recently, or is this just my experience?
- Have you had to provide more rent comps or additional documentation than in the past?
I'm trying to figure out whether this is an isolated issue with a few properties or if other Chicago-area landlords are seeing the same trend.
I'd appreciate hearing any recent experiences, successful strategies, or advice. Thanks in advance!