Why do you hate Section 8?

Section 8, also known as the Housing Choice Voucher Program, is a Federal housing program which provides housing assistance to low-income tenants/renters and future homeowners so that they can afford safe and secure housing.

This assistance takes the form of rental subsidies, limiting the monthly rent payment to up to 30% of their income.

Section 8 housing can be both ‘tenant-based’ and ‘project-based.’ Tenant-based vouchers are tied to the tenant. On the other hand, a project-based voucher is attached to a particular property. If someone lives in project-based section 8 housing and decides
to move on, then he or she can’t take the voucher with him.

But if it were a tenant-based voucher, then that can be taken anywhere that is willing to accept Section 8 vouchers.
The Housing Choice Voucher Program provides “tenant-based” rental assistance, allowing the tenant to change houses/residences.

With Section 8, “project-based” rental assistance programs can be offered in which the owner can reserve some or all of the units in a building for low-income tenants/renters. The Federal Government would then provide a guarantee to pay for the amount of rent unpaid by the tenant. A tenant who abandons a subsidized project will lose access
to the project-based subsidy.

A person qualifies for Section 8 if he or she has income of below 50% of the area median income. He or she must be a US citizen or a special category of a non-US citizen. He or she must have no criminal record or indulge in fraudulent practices. The program is managed by local public housing authorities or other designated agencies.

These organizations will first determine if a person is eligible for the assistance by going over his/her records of income, assets and family. If funds are available, then immediate assistance would be provided otherwise, the person would be placed on a waiting list.

Since there are a lot of people with lower incomes, many have applied years ago and are still waiting for a voucher. Once the voucher is received, people can go look for houses available for rent. Only those houses can be rented that are open to accepting Section 8 vouchers. No property owner is bound to make provisions for Section
8 housing tenants. The local public housing authorities in your area may have special homeownership vouchers for this purpose.

I”ll See you at the closing table,

Marcel Umphery the “R.E.I. Successmaker”