Showing posts with label sec 8. Show all posts
Showing posts with label sec 8. Show all posts

Wednesday, February 15, 2012

Did You Know a Section 8 or Plan Ocho
Voucher is Portable?

While interviewing April Johnson from Miami-Dade Public Housing Agency MDPHA I heard the term "Portability" being used in our conversation. I was familiar with transferring vouchers but I never heard the term portability being used. I decided to ask her what exactly did this term mean.

April mentioned that any tenant that had a Section 8 Voucher in good standing, could live in the jurisdiction of a housing authority anywhere in the United States that is administering a tenant-based (Section 8 Voucher) program including Puerto Rico and the Virgin Islands.

But there are certain guidelines and facts that you must be aware of:

  • Don't take for granted that the rules are the same for each housing authority. Each PHA has its own rules, regulations and deadlines that you must follow.
  • Fair Market Rent limits or payment standards may be different for each Public Housing Office PHA. Remember they are calculated by Zip codes.
  • The utility allowance may be different and may affect the rent amount you pay. Florida utility bills are much higher than Puerto Rico. I know because I lived in both places.
  • Rental subsidy standards may be different. I can recall the differences in subsidy payments from Miami-Dade to Homestead Offices. These offices are in the same county.
  • The new housing authority will issue you a different voucher, which may change the size (number of bedrooms) that you maybe eligible for. I can't tell you how many times this issue would come up while discussing voucher transfers.
  • If you decided to transfer you have to re-verify your income and do a background check. One of my tenants was kick out of the program because her son, not her, was caught dealing drugs. You may open a can of worms for yourself.
  • If you are new to the Housing Choice Voucher Program, you may have a waiting period before you can transfer to another jurisdiction of a housing authority.
  • If you decide to use the portability option of your voucher, make sure you contact your home office to start the paper work. This may take a while so give yourself some time.
  • Oh yeah, you better have an idea of where you want to go! Your home office can't do much if you can't tell them where you are going. You may want to visit the new housing offices so you can get an idea what will be involved and GET contact information to present to your current HOME jurisdiction.
  • By moving you are going to incur changes in your cash flows; security deposit, rental down payment, different tax structure, cost of living changes, insurances, education, transportation...on and on and on.

What does "Portability" have to do with real estate investing you ask? Miami-Dade Florida is a popular destination for voucher transfers and can be another channel in your marketing efforts to get tenants into your rental properties.

Do you have any experience with Section 8 voucher transfers? If so, tell us about it in the comments area below!

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Written by +Bob Burns.
 
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Saturday, October 8, 2011

Top 20 Most Common Reasons Why Units Fail
Section 8 Inspections.


One of your hats that you wear as a real estate investor is being a landlord. As a landlord, your job is to maintain the properties and keep them rented.

Keeping your properties fully occupied throughout the year increases your cash flow and provides a better return on your investment ROI but can be a difficult task! The longer a Unit remains unoccupied the less ROI landlords are going to have.

Below are several channels available to landlords to find qualified tenants:

  • Retail Market - Newspapers, Word of Mouth, Church, For Rent Signs on property, internet, etc...
  • Multiple Listing Service MLS - Database Realtors use to find rental properties for their clients
  • Section 8, Plan Ocho, Sec 8, Plan Eight, Plan 8, Section Eight - Government subsidized rental payment plan.


The more channels you have, the greater possibility of finding a qualified tenant for your unit. SPEED is essential for success. Any delay will hurt ROI.

Section 8 will eliminate a lot of the drawbacks of being a landlord but you have to follow HUD's guidelines to be successful.

One part of the guidelines is the unit or property must pass an interior and exterior inspection. If you fail the inspection, more delays and your ROI will be affected. Being prepared for the inspection will help make the rental transaction a smooth process.

From my experience with Section 8, below is a list of items that will fail a HUD inspection:

  1. Smoke alarms missing or not working.
  2. Lack of ventilation in bathroom.
  3. Outlet covers missing or broken.
  4. Infestation by bugs or vermin.
  5. Absence of handrails where 4 or more consecutive steps.
  6. Utilities disconnected (must be connected).
  7. Hazards (i.e. tripping as a result of floor covering or exposed electrical wiring.
  8. One window in each room must open and have a screen.
  9. Chipping paint on the outside of the building – gutters, outside surfaces of building.
  10. Hazardous hole or trash in the yard.
  11. Door not sealed properly (light can be seen coming through).
  12. No hot or cold running water.
  13. All windows must have sash cords or balancers and must stay in the open position without assistance.
  14. All ceilings must be at least 7 feet in height in areas used for living, sleeping, etc….
  15. All steps to landing or basements have handrails.
  16. Baths without windows must have power fan or gravity vents in high rise buildings.
  17. Open electrical distribution box must be covered with appropriate cover.
  18. Windows in bedroom too small and will not qualify as areas for sleeping.
  19. Security bars (rejas) can’t be opened from the interior will not be allowed to remain.
  20. All bedrooms must have a built in closet.
I provided pictures of potential failure points below. Can you identify what would cause a failed inspection item?

Click on each image to view a larger photo!


Section Failure Item Gap between Ground and House

Section Failure Item Chipped Paint

Section Failure Item Ceiling Stain

Section Failure Item Door Jam

Section Failure Item Water Heater Drain Pipe

Section Failure Item Circuit Breaker

Section Failure Item Rejas Door Lock
Have you any experience with Section 8 inspections? Share them with US!

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Written by +Bob Burns.
####
   
The caricature of Bob BurnsYeah Baby!
Bob Burns Print Signature Photo
Real Estate Investor
about.me/RobertKBurns
Telephone #: 305-586-5280
email: rkburns@investmentpropertiesmiamiflorida.com
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Saturday, September 10, 2011

Miami Dade Housing Choice Voucher Program Building

HUD's fourth largest Section Eight or Plan Ocho program in the nation is managed by Miami-Dade Public Housing Agency MDPHA. It is a management nightmare! I remember the old Coral Way offices and waiting hours to see a Landlord case worker. The county decided to outsource the management of Miami-Dade Public Housing Agency MDPHA's Housing Choice Voucher Program. Miami-Dade awarded a multi-year contract to Quadel Consulting. They are responsible for:

  • Section 8 Voucher Program
  • Section 8 Home Ownership Program
  • MDPHA Family Self Sufficiency (FSS) Program
This allows the MDPHA to save money and increase processing efficiencies.

Landlords, this is a great program to use for renting your investment properties. When a unit becomes empty, the clock starts ticking. You are losing MONEY! You need to lease this unit as soon as possible! Adding Section 8 or Plan 8 to your marketing funnel, increases the probability of finding a qualified tenant.

I put to together a simple video below that shows you the outside of the Miami Dade Housing Choice Voucher Program Building. Go down there NOW and set up an appointment to discuss the Landlord Program. Address is: 7400 NW 19th Street, Bay H, Miami, Florida 33126. Don't expect an appointment right away. They will schedule you via a 3-4 week window. Sorry, it is what it is!

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Written by +Bob Burns.
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Saturday, September 3, 2011

Miami-Dade Public Housing Agency MDPHA schedules meeting for Section 8 Landlords

Since REIC's blog discusses Section 8 or Plan Ocho in Miami-Dade County, I thought this news item should be posted. The budget for the US (United States) has gone through some serious cost cutting. HUD's Section Eight or Plan 8 will not be exempt from the reduction of funding. Section 8 landlords that have Section 8 HCV tenants or future landlords considering Section Eight, this meeting is vital for you to attend. I am SURE all the changes to the HUD' Sec. 8 program will be discussed by the Miami-Dade Housing Authority staff. Below is the meeting information:

"The Executive Director of MDPHA invites all owners and landlords with Section 8 (HCV) tenants to meet with him and his staff to discuss the HUD Financial Outlook and Changes. The changes impact: Payment Standards, Rent Reasonableness and Rent Increases.

Date: September 15, 2011
Time: 4:00-6:00 p.m.
Location: Port of Miami - 1015 N America Way to Terminal J Miami, FL 33132.
Security will require all owners and landlords to have registered for the meeting or they will not be able to gain access. You will also need to have a photo ID.
RSVP: September 6, 2011
E-mail: landlord@mdvoucher.com
Fax: 305-629-1032
Phone: 305-403-3222

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Written by +Bob Burns.
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MREIA's President
about.me/RobertKBurns
Telephone #: 305-586-5280
email: rkburns@investmentpropertiesmiamiflorida.com
MREIA's Web Page: www.miamireia.com
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Sunday, July 17, 2011

Section 8 or Plan Ocho Podcast

Below is a podcast I did with a buddy of mine named Larry King. I know what you are thinking but no not the CNN host. He did a telephone interview over the phone with me about Section 8 or Plan Ocho a while ago. The interview is slightly dated but evergreen (perennially fresh or interesting; enduring). I wouldn't post it unless I felt that it had some value for Real Estate Investors that will eventually be Land Lords.

The interview last for about an hour so make sure you set some time aside for listening.


Section 8 Podcast
(Click HERE)


Related Section 8 Blog Posts:

Do you have any experiences with Section 8 that you would like to share? Post your comments below.


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Written by +Bob Burns.
####
The Internet Kahuna Bob Burns MREIA Logo"Words can Hurt or Remedy!"
Bob Burns Print Signature for MREIA
MREIA's President
about.me/RobertKBurns
Telephone #: 305-300-6242
email: rkburns@investmentpropertiesmiamiflorida.com
MREIA's Web Page: www.miamireia.com
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