vouchers / section 8

  • All properties accept vouchers, but the process may take longer.
    Most properties have not yet been set up for the programs, and the paperwork takes some time.
  • We accept vouchers as long as you meet the other rental requirements.
  • Background Check
    A thorough background check is performed by an outside company.
  • Financial Requirement
    If your voucher does not cover the entire rent, and you are responsible for a portion, you will need to meet the financial requirement for that portion.
  • You can quialify by either your income or your savings.
  •  For Income, submit your last 3 paystubs showing your net pay is at least 2.5x your portion of the rent (for 1 tenant with income.  If there are 2 tenants with income, their combined net pay needs to be at least 3.5x your portion of the rent, for 3 tenants with income, 4.5x your portion of the rent.
  •  If your voucher does not cover the entire rent, and you are responsible for a portion, you will need to meet the financial requirement for that portion.
  • For Savings, submit your last 3 bank statements.  The ending balance for the last 3 months needs to be at least 5x your portion of the rent for most properties.  Some properties require as high as 12x.

calculate your budgeT

BUDGET based on your monthly net income (last 3 paystubs)

  1.  Enter  COMBINED TOTAL MONTHLY NET INCOME for all adults with income
    * Each adult must submit last 3 paystubs
    * Any adult who works 2+ jobs – submit last 3 paystubs for EACH job

  2.  Enter REQUIREMENT for the # of adults with income – see below

REQUIREMENT:

  • for 1 adult with income,  enter 2.5
  • for 2 adults with income, enter 3.5
  • for 3 adults with income, enter 4.5, and so on.
Budget-Income
$
per month

BUDGET based on your monthly ending balance (last 3 statements)

  1.  COMBINED TOTAL SAVINGS – all adults, all accounts – LOWEST MONTH
    * Each adult must submit 3 bank statements
    * Any adult with 2+ accounts – submit last 3 statements for EACH account
    * Add together to get your combined total savings for each of the last 3 months
    **Enter the LOWEST balance of the LOWEST of the last 3 months

  2. Your budget = lowest ending balance / 5
Budget-Savings
$
per month