5 Things You Need To Know About Section 8 Today

 Understanding Section 8, housing subsidies, and their application processes is not only a large endeavor; it’s an art form. It’s also something Oakleaf Property Managers are particularly well versed in. 

If you’re looking for information about Section 8, here is a great place to start.

What is Section 8?
Section 8 rental subsidies are available in two different programs, one is tenant-based (the “Housing Choice Voucher Program”), and one is property-based. Oakleaf Properties participate in the property-based program to provide assistance to extremely low-income households with their housing costs. While there are ongoing efforts to streamline and enhance the program, currently 75 percent of the Section 8 budget funds are being targeted at households living at or below 30 percent of area median income. In this program, participants pay 30 percent of their incomes toward housing costs, with the program paying the remainder up to a set pre-defined amount.

What are the Basic Eligibility Requirements for Section 8?
Because funds are so limited and because apartment homes aren’t always available, there is a sometimes a rather lengthy application process and waiting period, before housing becomes available. To be eligible for assistance, all of the following needs to be verified.

• Applicants must be a US citizen or a non-citizen with eligible immigration status.
• Annual earnings must be less than 50% of the median income for the county/city of requested residence as verified by current paystubs. The number of people in the family determines the income maximum.
• Any additional assets will be factored into eligibility, including real property, vehicles, savings accounts, investments, etc.
• Family composition

Other factors, like past participation in federally subsidized programs, rental history, arrest history, and payment history may also be additional factors in the application approval process. Under the Section 8 property program, tenant selection is regarded as the responsibility of the owner of the property as long as the federally mandated requirements are maintained.

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How Do Section 8 Properties Work?
The beauty of the Section 8 Program is that it allows the properties to specifically help those who need it most. Some properties are designated and designed specifically for elderly individuals or residents with disabilities, and the each property is responsible for maintaining and complying with the eligibility criteria and occupancy requirements.

Once approved and accepted, tenants sign and are responsible for their resident requirements as per their lease agreement with the landlord, which include the timely payment of their portion of the rent amount, which equals 30% of their income. The Section 8 Program subsidizes the rest of the rent payment and is paid directly to the landlord from the local public housing authority as part of their housing assistance payment contract.

We will go over the details of your agreement, your apartment, and your payment arrangement at the time you sign your lease. If you have any additional questions at that time, please ask. We’re here to help you.

Where Can I Get Help With My Section 8 Application?
While the application process can be complicated, our goal at Oakleaf PM is to simplify it as much as we can for you. The goal is to get you the help you and your family need, with the peace of mind that we are working with you in the process.

Your local public housing authority (PHA) should be your first reference when completing your application. Each PHA is supported by the Department of Housing and Urban Development, and their job is to help determine your eligibility within the framework of the federal program. Understand that there is only so much a PHA or a property management firm can do when it comes to finding assistance or available housing, especially since local preferences and waiting lists will vary with each location.

Oakleaf Property Management is here to help you with the application process based on our current property availability, and can also offer additional assistance with the application process.

For more information about tenant-based Section 8, also called the Housing Choice Voucher program, please see the Center on Budget and Policy Priorities’ webpage.