Section 8 Vouchers Often Lead to Disappointment in New York City

Section 8 vouchers are a federal program that enables low-income individuals and families to obtain subsidized housing.  Section 8 recipients may choose any available housing unit in their cities.  The tenant pays 30 percent of his or her income, and the voucher covers the remainder, up to a certain amount.  This gives low-income tenants a much wider variety of housing options than they would have if they had to apply for housing based on their income alone, but it excludes them from the priciest apartments.  The reason for this flexibility of location is to reduce wealth inequality by getting Section 8 recipients out of areas of concentrated poverty.  By living in an apartment complex in a middle-income neighborhood, near several supermarkets instead of in a food desert as many low-income areas are, the tenants can save money on food and transportation expenses.  The trouble is that, while Section 8 vouchers are a lifeline for some recipients, they are a missed opportunity for others, as more than a third of voucher recipients nationwide are not able to find housing by the time their vouchers expire.  To find out more about successfully matching with Section 8 eligible tenants, contact a Bronx real estate attorney.

What Can Bronx Landlords Do to Beat the Clock?

Landlords may complain about messy tenants, noisy tenants, and tenants who break the law, but the worst tenant of all is Nobody.  Every month that Nobody stays in one of your rental units, the financial losses pile up.  When a prospective tenant receives a Section 8 voucher, sometimes after a years-long wait, you have the chance to evict Nobody and get a paying tenant in his place.

The problem is that Section 8 vouchers expire after two months.  Exactly how big of a problem is that?  Nationwide, about 45 percent of Section 8 vouchers go unused because recipients cannot find affordable housing on time.  When this happens, they remain in their unstable housing indefinitely.  The best-case scenario is that they move in with relatives in overcrowded family homes, but at worst they end up sleeping on park benches.

The success rate of Section 8 programs varies from one city to another.  The greatest number of recipients get matched with housing in markets with relatively low demand and low housing prices.  In New York City, however, fewer than half of Section 8 recipients find a forever home by the deadline.  New York is the tenth least successful state when it comes to securing permanent housing for Section 8 recipients.  You can help by keeping rents as low as possible and by making the application process as quick and as inexpensive for applicants as you can.

Schedule a Confidential Consultation With a Bronx Real Estate Attorney

A real estate lawyer can help you streamline your application process to accommodate Section 8 recipients and other prospective tenants, resulting in fewer vacancies in your buildings.  Contact Cavallo & Cavallo in the Bronx, New York to set up a consultation.

Source:

usatoday.com/story/news/investigations/2024/08/13/federal-housing-vouchers-fail-low-income-families/74499904007/