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Updated almost 3 years ago,
CHA Lowering Rent and Will Not Provide Comps
Hi All, I’ve been partnering with CHA for the past year and for the most part I’ve had a great experience. Until recently.
I had requested a 3% rent increase for the unit. The unit is a 4bd/2ba near Logan Square. The rent had been set by CHA at $2400 since 2020 (I inherited the tenants). The new rent would be $2496. I submitted 8 comps, all similar to my property, all within 1 mile, and all above $2500.
Last week CHA reached out to me stating my rent increase was denied and they’d be decreasing my rent by $204 to $2196.
I asked for them to provide the comps that they used, but they stated that they were not allowed to share their comps. I found this to be very odd and kind of shady.
Besides breaking ties with CHA and not renewing the lease, what can I do? Also, does CHA have the right not to share the comps that they used?
Thank you!