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Why is my CCS asking for a new RCS when I submitted a RCS 2 years ago? My RCS should be valid for the next 3 years.


Some multi-year contracts stipulate that at the end of each 5-year period, rents for the project are to be adjusted to comparable rents. Such fifth year adjustments may result in a negative (decrease) or positive (increase) of contract rents for one or more unit sizes. To ensure contract rents are adjusted to comparables at the expiration of each 5-year period, the Owner must submit a RCS. If the project has an existing RCS that is not at the end of its 5-Year life cycle, the Owner is required to obtain a new RCS for use in adjusting rents to comparables. This will align the RCS and the 5-year period for the project for future fifth year adjustments. Project funds may be used to obtain this new RCS.  This adjustment is called a Mark-to-Comparables Rent Adjustment. (M2C)

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