Landlords and Tenants Can Glean Useful Information Regarding Housing Subsidy Offered by the Department of Housing and Urban Development (HUD)
Miami, FL -- (SBWIRE) -- 01/26/2016 -- Finding reliable, affordable housing can be a considerable challenge, especially in the still-recovering economic state we find ourselves in, a product of the housing market crisis of 2007-2008. For over 40 years, landlords and tenants alike have benefitted from Section 8 housing. This housing subsidy presents a phenomenal option for low-income families and individuals that also carries an appeal for landlords. In essence, the government provides vouchers to a select number of individuals, who are able to receive 70-80% of their housing bill from the federal government. While some landlords eschew the idea of more government involvement in their business, others welcome it with open arms. Navigating the pros and cons of Section 8 housing in Miami, Florida is one of the core services that Robert Burns provides. He developed the Miami Real Estate Investor's Association (or MREIA) in order to help investors, to give them an educational platform of advice, products, services, and strategies. Most recently he has been supplying information regarding Section 8 housing to all interested parties, helping landlords to recognize the value and tenants to take the necessary steps to apply.
Section 8 housing is a win-win for both the landlord and the tenant, although the path to obtaining it is certainly harder for prospective tenants. The landlord, for example, simply has to have the property qualified by the U.S. Department of Housing and Urban Development. Meanwhile, a tenant is often competing against thousands of other applicants for only a few spots. Upwards of 10,000 applications have been received in the past for just 1,000 available places. "The vouchers are highly sought after," explains MREIA founder Robert Burns, "…tenants usually have to get creative, whether that means seeking the help of a relative or working for a politician in order to receive their support and political clout."
Ultimately if a landlord is willing to put up with government involvement in their business, Section 8 housing can be a valuable option. The advantage for landlords is the government assistance, which assures the monthly bill will be paid on time. With the industry background and familiarity with Florida real estate, Robert is hoping to help landlords and tenants to better understand Section 8 housing and determine if it is a good course of action for their future.
About The Miami Real Estate Investor's Association
The Miami Real Estate Investor's Association (MREIA) was formed by Robert Burns in the wake of his first company, a small real estate investment firm that began in 2001. The real estate firm helps the professional investor market to sell and buy real estate assets. Real estate retail and investment communities receive advice, contacts, service, and opportunities from the MREIA.