Section 8 Housing for Rent

You're reading Section 8 Housing for Rent, posted on Thursday, March 10th, 2011 at 2:44 am in News, on BrainBloggers at the Real Estate blog. More after the jump.

For people who are unable to live in rented apartments section 8 housing for rent is an alternative. Living in section 8 housing for rent is different from living in an owned house. One can set an example by paying rent on time and avoiding petty fights.

The families that fall under Section 8 come from very low level income backgrounds and are unable to afford a place with their financial resources. So basically these families are eligible for housing assistance from the US Department of Housing and Urban Development. This association provides funds for housing assistance to local housing authorities, also known as PHAs (or public housing agencies).

To be eligible for Section 8 Housing for Rent, there are certain factors that need to be kept in mind. Firstly, they need to be citizens of the state they are residing in or atleast possess a reasonable eligible immigration status to qualify for assistance. Also, they must have a very low income according to the income standards. Mostly their family income has to be less than 50% of the standard measurable income. Once a family is eligible for assistance, a family must meet several requirements. They need to find a private property that qualifies for the assistance. At the end of a successful search, the government authority of that PHA or any other housing authority enters into a contract with the owner of the property. For such private properties to qualify, the localities must be hygenic and be properly maintained and the rent should not be too expensive. The rents are determined as per a government measuring body called “Fair Market Rent”.

As mentioned before, it is run by the State Housing Authorities and provide two different types of rental option which are classified as follows: Tenant based based and project based. The tenant based allow tenants Housing Choice Voucher and it gives the opportunity to move from one unit to another. Whereas project based allow the residents to live or take up residence in a building which offers apartments at a subsidized rate. There are different organizations which offer Section 8 Housing for rent, which refers prospective candidates such as the HUD-VASH or Homeless Programs, Skid Families Demonstration Project, Permanent Supportive Housing Program and Shelter Plus Care and so on.

There are different resources through which one may search for Section 8 houses which can be leased. For instance, one can access the HUDs website and determine if one qualifies for a section 8 house or not. Then, in case, one is applicable, they can fill out an application for renting a section 8 house. The forms are available at the HUD offices. Personal information and proof of income must be produced on request. To help one make a sound decision while browsing through options, remember to browse through magazines and note down valid points about the pros and cons about the house.

Last point, but definitely least, make a note of the rental limit. The limits usually vary from community to community. For instance, in the case of the public housing agency, the payment standard is usually pre-determined. The individuals or the earning members need to pay atleast 30 percent of the stated monthly income as rent. At times, the rent may go up as per the property, but its usually not more than 40 percent of the income. Section 8 housing for rent is a great initiative on the part of the government to help the needy people.