---
title: "Guide to Renewing Section 8 HAP Contracts: Key Options | CPA"
description: Own affordable housing with a Section 8 HAP contract? Explore renewal options and how each impacts rent adjustments, contract terms, and long-term revenue.
---

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# [Guide to Renewing Section 8 HAP Contracts: Key Options | CPA](https://accountants.sva.com/biz-tips/options-for-renewing-project-based-section-8-hap-contracts)

 Written by [Nicholas Bartel](https://accountants.sva.com/biz-tips/author/nicholas-bartel) | May 27, 2022

| **Highlights:** |
| --- |
| - Explains the six primary renewal options for project-based Section 8 HAP contracts, including eligibility requirements based on market rents, financing, and project characteristics. - Outlines key renewal considerations, including required HUD documentation, submission timelines, rent adjustment methods, and circumstances involving recapitalization or contract opt-out. - Helps affordable housing property owners evaluate Section 8 HAP contract renewal strategies to support regulatory compliance, preserve rental assistance, and align long-term property objectives. |

If you are an owner of affordable rental properties (especially if you already have an existing Section 8 HAP contract), you may be interested in learning about renewal options for your HAP contract.

Here are contract renewal options for you to consider:

## Section 8 HAP Contract Renewal Options

### Applicability:

This document applies to all multi-family housing projects with expiring non-MAHRA and MAHRA project-based Section 8 assistance contracts, unless otherwise noted.

### Owner Options:

Generally, an owner may renew the contract under any option in which the project is eligible at the time of renewal (i.e., the expiration date of the existing contract or, if applicable, the date of termination by mutual agreement of the existing contract).

At the time of renewal, an owner must choose among any of six renewal options.

### Key Considerations:

- An owner must submit the Contract Renewal Request Form ([Form HUD-9624](https://www.hud.gov/sites/documents/9624.pdf)) and required supporting documentation to the HUD Account Executive (AE) or the Contract Administrator (CA) at least 120 days, but no earlier than 180 days, before the Section 8 contract expiration. Copies of MAHRA renewal contracts for the six renewal options can be found on [HUDCLIPS](https://www.hudclips.org/).
- HUD will allow early termination of non-MAHRA contracts and MAHRA contracts (excluding MUTM contracts) if certain requirements are met.
- There are certain renewal options that require one or more of the following: Rent Comparability Study (RCS), OCAF Rent Adjustment Worksheet ([Form HUD-9625](https://www.hud.gov/sites/documents/Rent_Adju_Worksheet_9625.xlsx)), budget-based rent increase request prepared within the requirements of Section 2-15 of the Section 8 Renewal Policy, and RHS approved budgets be submitted to the AE/CA. The submitted forms should then be reviewed by the AE/CA within 30 days of submission.
- The new regulation Section 8 contracts set limitations on an owner’s right to distributions.
- HUD allows waivers, but they require “good cause” determination and can only be for non-statutory regulatory requirements.
- HUD believes that multiyear contracts (maximum of 20 years) assist in preserving affordable housing and, because of this, the Regional Center Director’s approval is not required on a renewal request for a multiyear term.
- HUD no longer allows Section 8 contract “extensions”.

There are multiple renewal options and considerations to take into account when looking to renew your Section 8 contracts. Which option is best for you?

If you are not sure, contact one of our [professionals at SVA](https://accountants.sva.com/professionals). They have the [expertise and knowledge](https://accountants.sva.com/industries/real-estate-consulting) to help you seamlessly renew your Section 8 contract.

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