Section 8 rental properties are a great way for many lower-income families to receive guaranteed housing in a stable situation, but like any program with an application process, there can be issues during this application. At Americas Housing Alliance, we’ll provide both landlords and potential tenants with information to help with Section 8 housing requirements.
What are some of the primary mistakes potential tenants make while applying for Section 8 housing? Here are a few of the most common.
The first step, before an application is even filled out, is determining whether you’re eligible for Section 8 housing in the first place. These qualifications are mostly related to the financial status of a house hold:
You must be a US citizen, or an otherwise qualified resident with legal immigration status. In addition, combined household income must fall below 50 percent of the median household income in your locality – three of four Section 8 recipients actually falls below 30 percent here, in reality. In addition, there could be further qualifications instituted by your local or state government.
Competition for housing assistance is tough, and simply claiming low income often isn’t enough. You’ll usually need pay stubs, income tax forms and bank account information. If you wish to apply for vouchers that can be applied to rent, you’ll need documentation from a landlord about monthly costs. Section 8 isn’t a blank check – without hard data, you may not receive approval.
Section 8 assistance is awarded through a PHA voucher system, but not all vouchers are the same. Different family situations will come with different voucher requirements. Make sure to do all your research and determine exactly what your situation requires.
For obvious reasons, Section 8 applications are very important. Don’t submit an application until you’re carefully competed and reviewed it, and if you can get someone else to check it over in advance, do that as well. If you have questions, speak to local PHA employees for assistance.
To find out more about Section 8 applications, or any element of our rental property investment programs, speak to the experts at Americas Housing Alliance today.