Friday Links
Judge Upholds City Ban on Section 8 Rent Bias [NY Times] M.T.A. Plan for Revenue Draws Host of Critics [NY Times] 4 Indicted in $10 Million Subprime Mortgage Fraud [NY Times] ACORN Digs in to Keep Owners in Homes [NY Daily News] Markowitz Wants Stimulus Cash for Atlantic Yards [NY Daily News] BellTel Lofts Readies…
Judge Upholds City Ban on Section 8 Rent Bias [NY Times]
M.T.A. Plan for Revenue Draws Host of Critics [NY Times]
4 Indicted in $10 Million Subprime Mortgage Fraud [NY Times]
ACORN Digs in to Keep Owners in Homes [NY Daily News]
Markowitz Wants Stimulus Cash for Atlantic Yards [NY Daily News]
BellTel Lofts Readies Retail Space for Tenants [Brooklyn Eagle]
Photo by .aG in the Brownstoner Flickr Pool
There is a limit for rent on section 8. I believe 1 bedrooms
are approx $1200. So your rent amount may exclude any sect,8 applicants.
The What (The Ghetto is going to take back the Hood..)
And all the scum is going to move back from NJ.
All well and good so far. What happens when you encounter that problem section 8 tenant and wish to evict or tenant starts making nuisance complaints to the authorities in charge. You now have a third party dictating to you, The Governmemnt! Have fun with that. Hope you never have to deal with it, I won’t. I have heard both the good and bad in with dealing with section 8. The only upside is getting paid like clockwork when everyting is fine. I expect that from any tennant.
To the Assheads! Section 8 is a Subsidy so you can be a Home Debtor, keep the mortgage payments rolling to your corporate masters and “pretend you have “income”.
” however you CAN discriminate if the person is a bad credit risk, has prior LLL/Tenant issues, is unemployed (person home 24/7 takes much higher toll on an apt) etc….”
Wrong!! If that tenant has a Section 8 Housing Voucher it trumps all this crap and if you participate in the program you have no choice. And by the way if you get into the Section 8 program you cannot opt out it’s for life.
The What (The Ghetto is going to take back the Hood..)
Someday this war is gonna end..
I have several Section 8 tenants and although one or two had poor or no credit histories, I don’t find them to be any more problematic than any other tenants. In fact, I prefer them because I get the largest portion of my rent on time and that is the portion that I need to meet expenses. If they are late with their portion I don’t have to stress them out and I don’t get stressed out. The delay in payment is usually in the begining of a lease term so you have to expect that but the money will come and they pay market price the same as everybody else.
Actually Sec 8 tenants can pay more then the “typical” tenant and you often find them applying for apartments above the $1000 mark (1br). That being said – the law is clear – you can not discriminate based on “source of income” – however you CAN discriminate if the person is a bad credit risk, has prior LLL/Tenant issues, is unemployed (person home 24/7 takes much higher toll on an apt) etc….
The law is ridiculous and can easily and lawfully ignored.
I think marty needs to shut up and sit down. Now he wants stimulus funds to pay for what Ratner agreed to do in the first place? No way. The railyards were part of the deal and part of what they used to sell the whole project. Ratner wants to use eminent domain- well, fair is fair. Ratner feels entitled to other people’s property and public funding, he shouldn’t be surprised when other people feel entitled to tell him to take a hike.
An owner needs to register with the city to participate in the Section 8 program. Info here, in case you’re curious: http://www.nyc.gov/html/hpd/html/owners/section_8.shtml
I never encountered any applicants with Section 8 when i rented out my apartment. Two questions: 1). Do you run into this situation very often with apartments in the $1,200-1,500 range and above or is it more usually the sub $1,000 places? and 2) Does the usual screening process of accepting the most qualified applicant still apply when presented with Section 8 applicants? I assume a Section 8 applicant will most likely not be able to show the normal financials.