Author Topic: Subsidy for providing affordable housing  (Read 370 times)

epurpur

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Subsidy for providing affordable housing
« on: March 12, 2021, 02:48:55 PM »
To make a long story short, I am considering renting my house. I am in Charlottesville,VA, USA.  The tenants would be a family I know. They are Mexican immigrants, single mother, three kids. Affordable housing is somewhat hard to come by in this town and they are in need.

I have not committed to this yet but I am considering responsibility. Though it is not very moustachian I am willing to offer them subsidized rent, to a degree. I want to help them but I still have to consider the financials. This got me thinking, is it possible to get some kind of subsidy for myself as the landlord offering affordable housing?

I did some preliminary googling. It seems most of the resources I found online offer subsidies for the tenants. I will keep looking. However, I thought some of my fellow moustachians might offer some advice.

Any information is appreciated.

mozar

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Re: Subsidy for providing affordable housing
« Reply #1 on: March 13, 2021, 11:14:19 AM »
My understanding is that it would be up to her to apply for programs. Unless you're doing Section 8.
https://pocketsense.com/section-8-alternatives-9800.html

In general though, it's the states responsibility to address the affordable housing crises. My feeling is that if you offer a discount you will think that this family will be grateful to you. I don't see this ending well, especially if the kids trash your place.

Queen Frugal

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Re: Subsidy for providing affordable housing
« Reply #2 on: March 13, 2021, 12:17:17 PM »
I kind of agree with @mozar. At least in my experience as a lawyer, lowering a fee for someone meant from time to time I end up feeling resentful for not getting paid what I am worth and more often than not they see my services as subpar.  Several years ago I decided to never discount my fee. I either charge full price or I don't charge a penny. I am not a landlord but gosh I have to think you'd have that same issue renting out your house.

oldladystache

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Re: Subsidy for providing affordable housing
« Reply #3 on: March 13, 2021, 03:44:28 PM »
If you rent out your house for a low price, expecting them to be thankful, they will think you are stupid and they won't thank you or respect you. No good deed goes unpunished.

trygeek

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Re: Subsidy for providing affordable housing
« Reply #4 on: March 28, 2021, 04:00:02 PM »
Don't have friends or relatives as tenants. You may have to evict them someday the their goes the friendship, family dinner what have you. You might rent full price to someone else and offer them help in some way to offset their rent elsewhere. ?

SndcxxJ

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Re: Subsidy for providing affordable housing
« Reply #5 on: March 28, 2021, 09:39:40 PM »
The equivalent would be to rent your place for market rent to someone else and just give the difference between market rent and what you would have charged them in a monthly allowance.  Would that feel as good to you?  If so, it might be a cleaner way to go all around (no eviction complications, if you have to stop or skip a month no hard feelings, no risk of trashing your assets, if a new boyfriend moves in that you don't like no complications of saying they can't move in, etc.).  If it wouldn't feel the same I would ask yourself if there is something more you are expecting to get from this arrangement (maybe a sense of taking care of them like a parent, maybe having some sway in their life choices, etc.).

affordablehousing

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Re: Subsidy for providing affordable housing
« Reply #6 on: March 29, 2021, 12:10:04 PM »
You can't get a bonus from the government for your good wishes unless you get section 8.