The National Council of Housing Market Analysts (NCHMA) today released a new supporting document to the organization’s Model Content Standards for Rental Housing Market Studies (Model Content). NCHMA’s Model Content offer a set of recommendations for standardized terminology, content, and level of analysis for market studies.
NCHMA recognizes that certain issues that are applicable to some market study users and reviewers might not be relevant to others and thus determined the best way to address these types of issues would be through a Frequently Asked Questions (FAQ) document.
The intended purpose of the Model Content FAQ is to broaden the conversation between NCHMA’s market analyst members and market study users regarding the Model Content and market studies in general. The FAQ is intended to expedite NCHMA’s response to user and member feedback and to clarify keys points in the Model Content Standards, as needed.
Items discussed in the FAQ include issues such as whether a market study should include references identifying PMA reliance on student populations and whether a market analysis should consider improvements made for rehabilitation projects and whether those amenities are reasonably expected to be maintained through Year 15. The document also covers topics related to how the “presence” of crime, drugs should be treated within a market study and how a market study should treat seasonal factors.
NCHMA’s considers its body of work to consist of “living” documents, which means that the resources the organization develops are constantly being re-reviewed and improved. As always, NCHMA appreciates and encourages user and member feedback from the affordable and rental housing community. Please send all direct feedback regarding any of NCHMA’s documents to info@housingonline.com.
Click here to read the Model Content FAQ
Click here to view NCHMA’s complete body of work.
