We are no longer able to operate our property; how can we sell or transfer the property?
Congress provided HUD with the statutory authority under which you may transfer your property in order to ensure it will continue to provide supportive affordable housing for persons with disabilities. HUD is developing implementation guidance. Contact your Multifamily Housing Account Executive for more information about these procedures.
- Section 210 allows owners to transfer the rental assistance contracts, existing HUD debt, and affordability restrictions from one multifamily housing project to another. View the Federal Register Notice. View more information on 210 Transfer Authority.
- Section 8(bb) provides HUD with a tool for preserving budget authority for project-based rental assistance (PBRA) under Section 8. Read more information on the Section 8(bb) Preservation Tool.
Has the property requested annual rent increases from HUD?
Owners must submit requests for rent increases to HUD or the Contract Administrator following the submission requirements described in HUD Handbook 4350.3 Chapter 7 and HUD Handbook 4350.1, Multifamily Asset Management and Project Servicing for budget-based rent increases, annual adjustment factor increases, and utility allowance changes. Need assistance requesting a rent increase? Contact your Multifamily Housing Account Executive.