Property Rental Assistance (PRA) Moratorium
Effective October 15, 2018, the Chicago Housing Authority is suspending the acceptance of new applications for the Property Rental Assistance (PRA) program. During the coming months, CHA will be evaluating PRA goals as part of its planning process.
Visit the CHA web site (http://www.thecha.org/ ) for announcements when applications will be accepted.
PRA staff is always available to discuss potential housing developments and can be reached at email@example.com or 312-786-4072.
PROPERTY RENTAL ASSISTANCE (PRA) PROGRAM
Do you own multiple properties or a multi-unit building? The Property Rental Assistance (PRA) Program aims to increase high-quality affordable housing in healthy and revitalizing neighborhoods throughout the city of Chicago.
The Chicago Housing Authority's (CHA) PRA program offers Housing Assistance Payment contracts for 5-30 years for multiple units. CHA is looking for excellent owners with great property in Chicago neighborhoods. New construction, substantial rehabilitation, and existing multi-unit buildings and portfolios with vacancies all qualify for the PRA program.
Apartment owners and developers wishing to apply to the PRA Program can visit the Development Financing page to download the Development Financing Overview & Application.
Please note: Only applicants on CHA's Wait Lists are eligible to live in PRA Program properties. CHA is not accepting new tenant applications for housing in the PRA Program.
Who Can Apply:
- Owners of existing well-managed multi-unit rental buildings or portfolios
- Developers of multi-unit rental buildings or portfolios
When to Apply:
- Applications are being accepted now and throughout the year on a rolling basis
How and Where to Apply:
- Visit the Development Financing page for Overview and Application
If you are an apartment owner or developer and want to have application updates or FAQs sent to you, please email firstname.lastname@example.org and ask us to "Add Me to Your Mailing List".
Property Rental Assistance FAQs
CHA determines the contract rent by accepting the lowest of the following amounts:
- 110% of the current published Fair Market Rent (FMR) (or 150% in Opportunity Areas) for the applicable bedroom size
- Average market comparables
- owner requested amount
The following steps must be taken to outreach for a vacant unit:
1) you must submit a vacancy claim form to CHA within ten (10) days of the unit becoming vacant. After receiving the vacancy claim form, CHA will then send your property ten (10) applicant names per your number of vacant units; i.e. if you have two (2) vacant units, you will receive a total of 20 names of outreach.
2) you will be required to complete a minimum of three (3) outreach attempts, via phone ( all numbers listed), mail, and email ( if applicable) for each applicant and send the corresponding outcome letters back to CHA detailing the outcome(s) of your outreach attempts.
3) When an applicant that meets your TSP criteria responds, you may contact the CHA accordingly and an intake interview will be schedules with the applicant. If CHA deems the applicant eligible, a PRA Tenancy Addendum will be created and forwarded to you, and the required HQS inspection will be schedules. Once the inspection is passed, you may sign your lease with the applicant and they may move into the unit.
4) If outreach attempts have been unsuccessful and the unit(s) are still vacant for either 30 days for designated supportive housing and senior housing properties, or 60 days for family sites, you may submit referrals from your sit-based waiting list to CHA for screening.
CHA requrires that all inspections follor HUD housing Quality Standards (HQS) guidelines (detailed information can be found in the CHA HQS inspection Guidebook), which are the minimum physical condition requirements all PRA housing units must meet before assistance can be provided. The Owner is responsible for inspection 100% of the PRA units and ensuring they maintain HQS compliance. CHA will inspect a minimum of 20% of each prpperty's units on a n annual basis for quality control monitoring. If more than 20% of the inspected units fail inspection, CHA may inspect all (100%) of the PRA units in the building.
Owners receive monthly PRA HAP payments via direct deposit. An electronic invoice is then forwarded each month detailing the payment breakdown. If Owners use YARDI, they may view access their subsidy statements at any time of each tanant's YARDI record.
The Owner's request for a rent increase must be submitted in writing (the request form can be found HERE) to the CHA 60 days prior to the HAP anniversary date, and must include the new rent amount the owner is proposing. When reviewing a request, approval is based upon determining the lowest of the following:
- 300% of the current published Fair Market Rent (FMR) for the applicable bedroom size
- Average market comparables
- Owner requested amount