Do Not Apply For A Section 8 Voucher Until You Read This

However, there are some pitfalls to this housing assistance program that you should be aware of before you start filling out your application.

Is your rent way too much to manage? Are you paying over half of your income to your landlord each month? And do you wonder if things will ever get better? If so, know that there is help out there, and your best bet for more affordable rent may be applying for a Section 8 housing voucher.

With a voucher, you can enjoy cheaper rent for many years to come. But with that voucher come issues that you may not be prepared for, which is why you should keep reading before applying for benefits from this popular assistance program.

Ways Section 8 Can Help You

Yes, Section 8 does come with several obstacles, which we will detail in a minute. But as you are about to see, a housing voucher offers so many benefits that it is worth taking the time to apply for.

• You can increase your financial stability once you have a housing voucher since it will reduce your out-of-pocket rent expenses. The days of paying over half of your income to your landlord will be over, as vouchers limit your rent costs to a maximum of 30 percent of your income. Even better, this usually includes utilities, which are a hefty expense on their own.
• If you make no income, you could enjoy free rent with a voucher. And if your landlord does not include utilities in the deal, you could get reimbursed for them via check, which eliminates your housing costs altogether.
• Although Section 8 isn’t emergency rent assistance, it can be long-term assistance since you can enjoy cheap rent through the program for many years into the future as long as your income doesn’t increase and exceed the eligibility thresholds.
• If you want to own a home and stop renting eventually, you may be able to use your voucher for homeownership.
• A voucher puts you in control. You can pick the city where you want to live, provided it’s not too expensive, and you can choose the type of housing to fit your family’s needs, such as an apartment or even a single-family home with several rooms.
• If you need to move, you can usually bring your voucher with you to continue enjoying cheap rent in the new location.

Section 8 Problems You May Encounter

A voucher is worth the effort it takes to secure one. Here are some issues you may run into along the way:

• Due to demand, the wait for a voucher may be as long as 10 years.
• You may have to contact several Public Housing Agencies and apply to multiple waitlists to accelerate the process.
• Waitlists sometimes close due to limited voucher supply.
• Finding the right place to use your voucher can be challenging. You may need to convince the landlord to deal with Section 8, plus the unit will have to pass a detailed inspection.
• You may be responsible for paying application fees and security deposits.
• Some have seen their rent increase past 30 percent of their income. If you are worried about such an increase, apply for project-based Section 8, where the rent is linked to the actual property.