 sect 8 tenant more $? (by mary h [MA]) Apr 21, 2024 2:43 PM
 (by NE [PA]) Apr 21, 2024 2:45 PM
(by Steve [MA]) Apr 21, 2024 4:32 PM
(by Jason [VA]) Apr 21, 2024 4:47 PM
(by Small potatoes [NY]) Apr 21, 2024 9:34 PM
(by mary h [MA]) Apr 21, 2024 10:00 PM
(by BRAD 20,000 [IN]) Apr 21, 2024 11:09 PM
(by plenty [MO]) Apr 22, 2024 8:25 AM
(by S i d [MO]) Apr 22, 2024 9:56 AM
(by tryan [MA]) Apr 22, 2024 10:39 AM
(by Rick K [MA]) Apr 22, 2024 12:29 PM
(by Tim [CA]) Apr 22, 2024 3:55 PM
(by 6x6 [TN]) Apr 22, 2024 4:50 PM
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sect 8 tenant more $? (by mary h [MA]) Apr 21, 2024 2:43 PM
Message:
OK not crazy about sect 8, but in this isolated country town that had its only two employers move out , its sect 8 or no rent.
My question, I have a tenant who for years have been wonderful, Doing many things like landscaping ,cleaning, etc,etc.She refuses to take any money for it as she is very concerned that it will effect her only income from SS.*
So a while ago sect 8 increased her side of the rent. She has had health problems car problems, cancelled her cable (which means no TV in this town) now gets meals on wheels, cut a lot of expenses .
I was wondering if a tenant can ask for re evaluation so housing can pay more, maybe even just go back to what she used to pay not long ago.
*I would also like to know with her current health problem, which I'm pretty sure she would be disabled,..So does anyone know if one can get regular SS AND SS disability?
--73.126.xx.xxx |
sect 8 tenant more $? (by NE [PA]) Apr 21, 2024 2:45 PM
Message:
If you’re looking to coach her through her problems, I would strongly advise against it. --24.152.xxx.xx |
sect 8 tenant more $? (by Steve [MA]) Apr 21, 2024 4:32 PM
Message:
IMO it's not too wise to get overly friendly with your tenants. That being said if you're determined to offer her some guidance try putting her in touch with your local council on aging office. In my part of MA they do a lot to make elderly people aware of what programs are available to help them out.
FYI anytime there is a change in a S8 tenants' income they can ask to have their paperwork reevaluated. --96.233.xxx.xx |
sect 8 tenant more $? (by Jason [VA]) Apr 21, 2024 4:47 PM
Message:
Our jobs are to provide and maintain housing. Our job is not to coach or advise, leave that to family and friends. --172.56.xxx.xxx |
sect 8 tenant more $? (by Small potatoes [NY]) Apr 21, 2024 9:34 PM
Message:
S8 will pay for the number of bedrooms occupied, and you receive less if they are also paying the utilities. As for services point your tenant to office for the aging if you are inclined to say something. --172.59.xxx.xxx |
sect 8 tenant more $? (by mary h [MA]) Apr 21, 2024 10:00 PM
Message:
Jeeze, Over the years getting involved with a tenant is extremely rare, but she is older and has no family in position to help, over the years she has saved me a huge hassle by showing apts, as I said keeps the place clean, reporting on things that need a trades person,.etc.I'm a 100 miles away so its very helpful (please no comments from some here who always say SELL!) Its good for me in a number of ways,..
There are few friends and family in my life that has been as nice and thoughtful.But again won;t take money from me for doing the maintenance she does, I have tried to partially make it up to her in new appliances, bath upgrades, painting, new windows and any thing to make her unit better,
Being a LL for nearly 30 years and 8 multi buildings hasn't totally destroyed my compassion. --73.126.xx.xxx |
sect 8 tenant more $? (by BRAD 20,000 [IN]) Apr 21, 2024 11:09 PM
Message:
Mary h,
OK to encourage her. Sometimes keeping a resident and avoiding turnover is the best strategy. "Stay in control" means doing what's best for YOUR business. Just maintain a professional boundary. Too easy to get sucked down the rabbit hole with people who rely on help to survive. Ask me how I know!
Yes, they can adjust her portion at any time. It's up to her to talk with her caseworker.
If you want to reward her for stuff give her a grocery gift card. Or buy the flowers for her to plant. Keep it simple because she will start relying on it.
BRAD
--73.103.xxx.xxx |
sect 8 tenant more $? (by plenty [MO]) Apr 22, 2024 8:25 AM
Message:
I'm my state, yours may be different, any change in income will change the amount they pay. There is a formula used to determine the amounts. Perhaps her voucher size got reduced and she once had a two bedroom voucher and not it's a one bedroom voucher? Perhaps she said an adult child or other family member lived with her as care giver? Perhaps she inherited some money that while on paper can't be touched, it's in her bank. We just don't know all the facts. But certainly I would encourage her to talk with her social worker or HUD contact to ask if she could have her formula reconsidered. Sometimes the caseworker just does the math wrong but leaving out and expensive!? I'm guessing that her voucher size no longer matches your unit size and instead of moving she is paying more. Her choice. Perhaps you can help in other ways like paying a credit on her utilities or dropping off or mailing a gift card in appreciation for what she's done in the past for groceries or gas station. Cash is good too. It's very thoughtful of you to help another, non family or just someone down on their luck. Agree not to get involved but sharing a resource or a tidbit of helpful information can go along way. Just keep your boundaries and don't expect anything in return. I have one resident who they never get her child support figured correctly in the formula and she is always asking for review. In my state it's normally done in June unless the voucher holders income is reduced then they can request it readjusted. It's sorta a game. If they know the rules they can make out. Reduce income in April and May, so your evaluation in June is lower. Then I'm July pick-up lots of hours. This reduces your expenses and increases your income. Repeat in April. Otherwise your rent share increases. Just sharing. Not sure about your lady. --172.59.xx.xx |
sect 8 tenant more $? (by S i d [MO]) Apr 22, 2024 9:56 AM
Message:
A few thoughts:
* Isolate property in the country.
* Few jobs.
* Section 8 is the only good rent option.
I took all 3 of those from your first post.
It's time to run a Sunk Cost analysis. Looking at the Sunk Cost helps us analyze whether or not we're making solid, wise decisions, or emotional, possibly unwise decisions because of inertia/lack of motivation. Sunk Cost analysis forces us not to think where we ARE today, but where we would GO if we had the choice to do X or Y. So let's try it here.
Sunk Cost formula: If you have X already and had a chance to exchange it for Y, would you do it?
Translation: Let's say X represents $100,000 the market value of your rental property, and today you don't own it yet but instead have that amount of cash in your pocket/bank account. Would you trade that $100,000 to buy a rental property in a small town with few employment prospects, which is likely to have little to no growth, and where you'd have to deal with the Govt to get paid? That property is the Y, the thing you have to give up your $100,000 cash to acquire.
Would you make that trade today? If not, then unless your planning to move back into that house some day, there's really no good reason to stay put just because that's where you are today.
This is how we as business owners/investors should evaluate decisions that keep us happy, healthy, and wealthy. Please consider it.
--184.4.xx.xx |
sect 8 tenant more $? (by tryan [MA]) Apr 22, 2024 10:39 AM
Message:
My S8 peeps are required to pay 30% of their income to rent. Pretty simple equation .... If they hide income they risk loosing the certificate.
Not that I would get involved but where is she putting the other 70%? --198.168.xx.xxx |
sect 8 tenant more $? (by Rick K [MA]) Apr 22, 2024 12:29 PM
Message:
Ok, I understand the 30% rule, I'm guessing it sounds possibly like a good portion of that other 70% goes to her medical bills and being recently deemed permanent disabled.
Does that affect anything that could adjust her "income"?
Can one get disability plus the regular SS payment?
--96.236.xxx.xx |
sect 8 tenant more $? (by Tim [CA]) Apr 22, 2024 3:55 PM
Message:
"Being a LL for nearly 30 years and 8 multi buildings hasn't totally destroyed my compassion."
Good for you. You're rare in this biz. --73.2.xx.xx |
sect 8 tenant more $? (by 6x6 [TN]) Apr 22, 2024 4:50 PM
Message:
Ditto what Tim[CA] said.
Sid, thank you for that description. --76.129.xxx.xx |
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