Rent Determination Process for New Apartments
STEP 1: Metro Housing|Boston inspectors conduct an HQS (Housing Quality Standard) inspection. Once the unit is determined to be in compliance with HQS requirements, the inspector will rate each unit utilizing a grading system.
STEP 2: All new unit rents undergo a reasonableness evaluation by the Metro Housing Market Analyst. Rent reasonableness is determined based on the unit grade that is given by the inspector, any amenities that are in the unit, and the rents of comparable non-subsidized units in the same ZIP code. Please note: Metro Housing’s payment standard amounts help determine maximum rents only and do not necessarily represent the rent that will be offered. New unit rents larger than the payment standard plus 10% of the tenant’s adjusted monthly income cannot be approved, regardless of if they are reasonable.
STEP 3: The Market Analyst approves requested rent amount or contacts owner with a different offer. Property owner accepts or declines offer. Please note: Tenants are not authorized to offer rent amounts to property owners. Final contract amounts will be determined by the market analyst only.