“The quality of products was high with no errors or omissions… [SPG] demonstrated flexibility and willingness to accommodate [the client].”
– Client’s Official Evaluation
Challenge: HUD’s Office of Multifamily Housing uses Rent Comparability Studies (RCSs) as key elements in making its decisions involving renewal of Section 8 housing assistance payment (HAP) contracts. HUD’s Office of Multifamily Housing needed an in-depth review of its Rent Comparability Study (RCS) development and review process, to address inconsistencies and lack of standardization in its current policies and guidance and needed a gap analysis to align with industry best-practices.
Solution: HUD contracted SP Group to conduct a detailed compliance and risk assessment involving review of hundreds of RCSs, to discern whether the comparable market rents as stated in the RCSs were relevant based on applicable factors and whether HUD’s guidance was effective and sufficient.
We developed a stratified random sample and selected a portfolio of representative RCSs for detailed review. We also devised checklists for conducting a comprehensive review of each RCS utilizing metrics and tools to identify deficiencies and inconsistencies in the RCS preparation and review process. We performed a strategic review of HUD’s existing guidance and policies to identify gaps with industry best-practices.
Our findings and recommendations were presented in detailed reports and presentations to HUD that were considered to be of “an outstanding quality”. Throughout our engagement, SP Group’s commitment to meticulous analysis and superior quality deliverables was recognized by HUD. As a result, HUD re-engaged SP Group in a follow-on contract to assist with implementing our recommendations.