Section 8 is Being Challenged in California
Section 8 is a voucher program administered by the FHA to provide income to low income and disabled individuals. it is a worthy attempt to provide an alternative to public housing. The system provides subsidies for qualified individuals. The subsidy check bypasses the tenant and is sent directly to the owner or manager.
In return, the owner/manager is required to sign a federal contract, allow for annual inspections and a market rent rate review can be imposed by FHA.
Yes. Because the voucher payment bypasses the tenant, it is not considered a source of income and California owners can reject Section 8 applicants on the basis that the applicants income does not meet the financial requirements. After all, if you had the income you wouldnt need section 8.
There are challenges to California's position. Some section 8 applicants are making the case this is discriminatory and that section 8 should be mandatory.
Thanks for Reading
Howard Bell
www.yourpropertypath.com
A web site of over 450 articles related to real estate focused primarily on property management.
Your Property Path news Brief
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What Is It
Section 8 is a voucher program administered by the FHA to provide income to low income and disabled individuals. it is a worthy attempt to provide an alternative to public housing. The system provides subsidies for qualified individuals. The subsidy check bypasses the tenant and is sent directly to the owner or manager.
In return, the owner/manager is required to sign a federal contract, allow for annual inspections and a market rent rate review can be imposed by FHA.
Is Participation Voluntary
Yes. Because the voucher payment bypasses the tenant, it is not considered a source of income and California owners can reject Section 8 applicants on the basis that the applicants income does not meet the financial requirements. After all, if you had the income you wouldnt need section 8.
There are challenges to California's position. Some section 8 applicants are making the case this is discriminatory and that section 8 should be mandatory.
What Are The Benefits
- Yearly inspections of the unit
- Fair market rental rates
- Strict renter responsibilities defined in the lease addendum
- On-time payments
- Tenants can be removed from the program for damages to the unit
- Owners get rent security
Thanks for Reading
Howard Bell
www.yourpropertypath.com
A web site of over 450 articles related to real estate focused primarily on property management.
Your Property Path news Brief
http://yourpropertypath.blogspot.com/
Snap News updates real estate markets and all things of interest to property owners and real estate professionals
Your Property Path Amazon Store
http://astore.amazon.com/yourpropertypath20-20
super deals on agent open house tools We hand picked Amazon for the tools you need
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