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Hi, need some help from you rental real-estate gurus.
Due to the excessively high rents all tenants are experiencing, I am forced to apply
for senior subsidized housing.
I will be looking for one of these big senior income restricted housing complexes or other senior income adjusted housing. Interested also to find cities that have a relatively large
percentage of OLD housing like 30 yrs. old and older.
My guess is those cities will have more private landlords
offering off the network cheap housing.
I am limiting my search to cities in the SE, Atlantic or SW
U.S. that have little or no snowfall and where the daytime temps are well above freezing. I only want cities with a population above 30K. It's easy to find cheap rentals in the middle of nowhere, but that's not for me.
From my travel experiences, it seemed that cities like Seattle or similar (but not as expensive) that have liberal governments are most likely to offer senior housing without a lot of barriers or impossibly long waitings lists, but I could be wrong about that.
The statistical and other information on the net I don't believe accurately reflects the situation on the ground. Imo, it's mostly misleading. That's why I'm asking for your opinion on which cities I should look at.
Thanks for any helpful replies.
Hi, need some help from you rental real-estate gurus.
Thanks for any helpful replies.
Top of that list is to back off the head game like the immediate market issues are ALL somehow new.
Or that is has any responsibility for your circumstance.
Next up is the practical reality (now any other time before) that housing cost all comes down to ONE simple thing:
how many others we have to share a bedroom or toilet with ... before the avg rent cost per behind... can be afforded.
The number IS a lot higher than it has ever been. It's not an illusion.
Quote:
It's easy to find cheap rentals in the middle of nowhere, but that's not for me.
(so...) I will be looking for one of these big senior income restricted housing...
I am limiting my search to cities in the SE, Atlantic or SW U.S. that have little or no snowfall
What a novel approach! I wonder if anyone else has thought of this.
Third on the list is look into the Retirement Forum here where about 20 threads exist with all of the questions already addressed.
Read through some and try to figure out exactly where your difficulty lies. Ask those other retirees (not their LL's).
Good luck.
Good luck! Most senior complexes that are subsidized or income based have long waiting lists, you are basically waiting for some one to have to go to assisted living or pass away. Senior complexes not income based charge market rates.
I feel you pain, 4 years ago I was comfortable, now I'm paying $700 a month more due to rent increases and next lease renewal I'll be up to $1K more, I've had to bump up my 401k withdrawal to cover the increase which is the last thing I wanted to do.
I don't know what the answer is just know this is not sustainable long term for seniors or families.It's totally outrageous what the rents are, I honestly don't know how the average family is surviving
Pick a city, go around to all of the subsidized senior housing and apply and get on the waiting list. If and when you are offered an apartment, grab it and be happy and don't turn it down because it isn't good enough for you and you think you deserve better.
Subsidized housing that is open to all ages is going to be easier to find, so I suggest that you apply at those places, too..
What tenants generally consider to be "private landlords" are not going to be offering subsidized senior housing, although some will accept Section 8 rental assistance. Age discrimination is against the law for the small owner managed rentals.
Good luck! Most senior complexes that are subsidized or income based have long waiting lists, you are basically waiting for some one to have to go to assisted living or pass away. Senior complexes not income based charge market rates.
I feel you pain, 4 years ago I was comfortable, now I'm paying $700 a month more due to rent increases and next lease renewal I'll be up to $1K more, I've had to bump up my 401k withdrawal to cover the increase which is the last thing I wanted to do.
I don't know what the answer is just know this is not sustainable long term for seniors or families.It's totally outrageous what the rents are, I honestly don't know how the average family is surviving
haha. I guess the real estate forum was the wrong place to ask. Prolly inhabited by a bunch of rich developers who enjoy price gouging all the tenants out there. What goes around comes around as they will find out sooner or later. Maybe I'll just do as so many have already done and pitch a tent.
haha. I guess the real estate forum was the wrong place to ask. Prolly inhabited by a bunch of rich developers who enjoy price gouging all the tenants out there. What goes around comes around as they will find out sooner or later. Maybe I'll just do as so many have already done and pitch a tent.
Reality is, subsidized senior programs pay pretty poorly so there is no incentive for a landlord to participate when there are many other subsidized programs that pays more. Unless a developer is getting some concession or direct funding, it's one big losing proposition (income far below expense) to develop senior housing based only on the tenant's subsidy payments.
As far as price gouging, that is another fact of life. I'm in this to make money, as much money as I can. My partners and I invested millions into buying and renovating buildings and we have every right to expect the maximum return. Equally, I can find myself out millions if it doesn't make a penny. I am not a charity or social services organization. That's why we have government for social services, so those who can't afford, have a safety net. Unfortunately the reality is if you want an affordable senior subsidized place in an "alive" area, you have to accept a place one step away from a slum or wait inline until something finally opens up hopefully before you die. The alternative is move to the sticks where the COL is lower and developers stand a chance of at least breaking even.
Now, if a tent is your future, don't forget to ask for a senior discount when buying.
haha. I guess the real estate forum was the wrong place to ask. Prolly inhabited by a bunch of rich developers who enjoy price gouging all the tenants out there. What goes around comes around as they will find out sooner or later. Maybe I'll just do as so many have already done and pitch a tent.
Look at it from a Landlord’s perspective. Why would a small time private Landlord who has bought an investment property, in order to achieve additional income, be motivated to join a Section 8 program where a 3rd party can withhold rent when tenants, who cannot afford the rent for the place, are able to report the Landlord for (sometimes/maybe/fabricated untrue) issues that can result in rent being withheld?
For the most part, the subsidized housing will be in large multi-unit complexes built for the purpose. There are long waiting lists for those. Here in Las Vegas, the large majority have such long waiting lists that they are not taking new applications.
This is not about greed on the part of Landlords.
But it is about need. And if one really does need subsidized housing, he can’t be picky about the location or the specific unit.
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