Property Management
In Hawaii, what is the 'fair market rent' concept and how is it used in subsidized housing?
AA. The rent set by the Hawaii Real Estate Commission for all rental housing
BB. HUD's estimate of the rent needed to obtain modest, decent housing in a local market, used to determine rental assistance payment amounts✓ Correct
CC. The average rent in a given zip code as determined by the county
DD. The maximum rent any tenant may be charged in Hawaii
Explanation
HUD publishes Fair Market Rents (FMRs) for metropolitan areas and counties, used to determine payment standards for the Section 8 Housing Choice Voucher program and other subsidy programs.
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