Voucher Program Rent Reasonableness Assessment
I'm considering making some upgrades to a property so that it would pass the HCVP inspection, because I could get more rent from it if I were to rent it for the maximum rent approved for the neighborhood that it is in.
However, I've also read that the DC Housing Authority does a "rent reasonableness" assessment. Does this simply ensure that the unit is not being rented for more than the payment standard? Or do they evaluate the individual unit and adjust the rent downward if, in their opinion, it is overpriced even though it is within the payment standard for the neighborhood?
The upgrades I'd need to make would make little difference in the rental value or resale value of the property in general, so the only incentive to make them would be if I can get more rent from the voucher program.