Comparing Section 8 with Section 811
Section 8 helps low-income families afford rent payments in safe and decent housing. Landlords get the benefit of guaranteed rent payments, at least the portion of the rent supplied by the program.
Section 811 helps low-income disabled—typically mentally or developmentally—citizens afford rent payments in safe and decent housing with supportive services, but this could be a single family or multi-family unit housing.
Section 811 Overview
The Section 811 program provides funding for housing that supports the approved needs to disabled tenants. Money from the combined programs is meant to cover the costs to run the program and to pay the disabled person’s portion of his or her family’s rent.
At least, one (1) member of the family member must be 18 or older with physical disability, developmental disability, or chronic mental illness. The family must have a financial need because of having a low income, approximately 50% of the Area’s Median Income (AMI) or lower.
The supportive service housing targets providing disabled tenants with safe, affordable housing. The clients can receive supportive services: case management, training in independent living skills and assistance in obtaining employment. Tenants, however, are not required to participate in these services.
How can the Section 8 landlord benefit?
The most unofficially advertised benefit of having a Section 8 Tenant live in your property is that the government portion of the rent payment is guaranteed and provides collection without hassle once everything is approved.
However, the Section 811 program provides additional benefits.
An owner of a nonprofit organization with a tax exempt 501(c)(3) status can receive loan funding interest free for the for the acquisition, rehabilitation or construction of approved supportive housing for disabled tenants.
Wait! There IS more.
If the housing remains available for approved supportive housing for forty (40) years, the loan debt is forgiven.
<input id=”gwProxy” type=”hidden” /></p>
<!–Session data–>
<input id=”jsProxy”></p>
<input id=”gwProxy” type=”hidden” /><input id=”jsProxy”>
To learn more contact Section 8 Pros (248) 757-0926 or go to www.Section8Pros.com. Section 8 Pros helps landlords and tenants meet each other’s needs, focusing primarily on the Detroit city and surrounding areas. They help out of town investors keep their properties productive.
You must log in to post a comment.