Subsidized housing provides affordable accommodations to those with low or moderate incomes. The tenants pay rent based on their income rather than the size or style of living space. Funded by the Department of Housing and Urban Development (HUD), the government (state or federal) pays part of the rent and the tenants pay the balance. Subsidized housing offers assistance to families, senior citizens and those with disabilities. Subsidized housing programs include vouchers for the disabled and to unite family members, portable-and non-portable-tenant-based, project-based and emergency vouchers for domestic violence. The Housing Choice Voucher Program — or Section 8 — is the most popular. Area housing authority offices are vital resources when it comes to subsidized housing information. If you are interested in becoming a subsidized housing provider or want to offer your company's services to help improve or develop subsidized housing properties, you should:
1. List your business with the federal government.
2. Find out how to become a subsidized housing provider.
3. Invest in potential subsidized housing property.
Action Steps
The best contacts and resources to help you get it done
Register your business to be included in a subsidized housing list of contractors
Any company wishing to do business with the federal government must be registered in its database.
I recommend: Central Contractor Registration (CCR) welcomes sole proprietors, corporations, partnerships and government agencies to register their business in CCR's registry. Registrants are able to submit bids or request for proposals to perform work on potential or existing subsidized housing projects. HUD's
Office of Small and Disadvantaged Business Utilization also provide small business owners and contractors with information on business opportunities like those involving subsidized housing.
Consider becoming a subsidized housing provider
Subsidized housing landlords are needed to reduce the shortage of those who honor Section 8 vouchers.
I recommend: Section8Programs.com allows anyone who has low rent housing or accepts rental vouchers to post their listing online. This free advertising is good for one month. Additionally, the site provides information on ways landlords can obtain government grants for property improvement projects, how they can purchase foreclosed properties in their locale and get a subsidized Housing Online Packet designed for potential landlords.
Socialserve.com also allows subsidized housing providers to list their properties. Postings include monthly rent payments (based on
Fair Market Rents) and the number of bedrooms.
Find subsidized housing properties that are for sale
Low income-or subsidized-housing is vital to inner cities and urban areas. These are the very locations, however, that find it difficult to meet the affordable needs of their residents.
I recommend: CurrentForecloures.com locates potential subsidized housing properties in any given area via a subsidized housing directory. Enter the state, county and zip code for the location you are interested in to view the current listings. Each posting features a price history that includes past and present asking prices and the number of bedrooms and bathrooms. There is a monthly service fee but first-time users can purchase a 15-day pass for one dollar.
HUDforeclosed.com also lists available foreclosed, HUD homes and auction property. Membership is required to view specific information.
Tips & Tactics
Helpful advice for making the most of this Guide
- Subsidized housing applicants must provide proof of income, tax returns, birth certificate and proof of any benefits they are receiving.
- Voucher programs are not rent-controlled by the government so roughly one-third of an occupant's monthly income will subsidize rent and utilities. Those participating in rental certificate programs never are required to contribute over 30% of their adjusted gross income toward their subsidized housing rent.
The official source of Subsidized Housing is the Subsidized Housing page at Business.com
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