Home Personal Finance Resources Rent Assistance

Rent Assistance


Rent Assistance with Rental Programs

As known, transportation and housing costs seem to be rising at an alarming speed. This means, there are a number of people looking for some sort of rent assistance programs which can help them in sailing smoothly. It is known that moderate income household spends nearly 60% on transportation and housing. Opting for a government program is a reliable option available as you have multiple rent assistance programs designed specifically to meet the needs of the US citizens.

Housing options Federal funded:

1. Public housing:

Public houses can be termed as a rental property which is federally subsidized. This can be duplex houses, an apartment house or even a cluster of private homes. The houses are funded by the HUD (Housing of Urban Development) but managed by the local authorities of housing. This public housing is very much like moving to a house rented from a private landlord. You are required to meet the eligibility criteria and also sign a lease. The only difference is that the decision of the amount of rent to be paid is made by the housing authority. You need to consider the factors listed below for qualifying for a public housing for the required rent assistance.

* Meet the criteria for low income in the specific state

*Provide references

*Be a citizen of the U.S. or have an emigration status which is eligible

*Meet the housing agent after passing the check on background.

2. Subsidized Housing privately owned:

The housing under the privately owned subsidized scheme is houses owned by private landlords. They offer some of the apartments at a reduced rate specifically for the families with a low income in exchange for a credit in tax. The amount of rent to be paid depends on different factors. There are few landlords who offer subsidized rates for homes for anyone who meets the requirement, while others calculate the rent on the income. The factors to be considered for this type of rent assistance is

*The monthly income needs to be less than the maximum bracket

*Meet the qualifications put forward by the landlord

*Pass the background check

3. Rent Payment Assistance:

Under the Housing Voucher program for rent assistance you are given a voucher which can be used as rent for corporate housing complexes and private landlords. The management company of the property needs to be listed in the list of landlords which have been approved.

With this, a part of the rent is paid by the local authority of public housing and a part is paid by the tenant. The voucher amount is fixed according to the current rate in a specific area. To qualify for this rent assistance program you need to

*Find a property which is approved by Section-8

*Meet the low income requirements of your state

*Pass the background check

*Apt references

This program has some sort of waiting period.

Besides programs for rent assistance by the federal government, you can also research on different programs offered by a specific state or even by organizations dealing in charity.