The Affordable Housing Investors Council recently published revised underwriting guidelines for or low-income housing tax credit investments. Notably the Market Study section of the guidelines strongly endorse NH&RA’s National Council of Affordable Housing Market Analysts recommending:
“A third party market study completed less than 6 months before the investor closes into the partnership should be used in the analysis of rental rates, absorption rates and demand assumptions. In weak or declining markets, investors should consider a more current market study or update be performed prior to closing.
Investors should use National Council of Affordable Housing Market Analysts (NCAHMA) certified market analysts to perform market studies using the NCAHMA Model Content Standards for Market Studies for Rental Housing, which is a set of recommendations on the specific types of information, data, analysis, and conclusions that should be contained or addressed in a market study for an affordable rental housing project.”
Visit NCAHMA’s website for to find our directory of our members at: http://www.housingonline.com/MarketStudyProviders.aspx
More NCAHMA News
There are a number of other exciting developments in the works with NCAHMA at the Committees we’ll be scheduling calls in late March and hope you’ll be able to join us. We also have a very exciting program coming together this April 27-28, if you aren’t signed up yet, please note that our early registration discount ends next Friday. This session will fulfill 8.0 hours of NCAHMA’s annual continuing education requirement (16.0 hours annually).
