Archive for November, 2008
Calculating Government Rental Assistance for Tenants
Landlords that rent to tenants receiving government assistance may want to take note of the Rental Housing Integrity Improvement Project or RHIIP. RHIIP falls under the Office of Housing and its goal is to ensure that low-income families getting rental assistance are getting the right amount. To figure this amount the family’s annual income minus deductions is determined which means that property owners or managers who rent to these individuals are responsible for making sure they have accurate annual income information for their tenants.
Because the government is theoretically getting all income information through Social Security and Supplemental Security Income benefits, and W4 information as well as a number of other agencies and sources that supply annual income information to the HUD, they compile all of this information and make it available in the EIV System.
Property managers who use information received on the EIV System are required to first contact the tenants and let them know that they are using this information to recalculate their income which may affect the amount they receive as rental assistance.
Since its inception, the EIV System has helped reduce errors and improper payments due to improperly reported income information. By working together the tenant, landlord, property owner and government can insure that proper assistance is provided to those who really need it.
Selling Real Estate in a Down Market
Real estate markets all over the United States are on the decline. This has led to more homes than usual for sale, as well as prices falling below previous market value. If you find yourself wanting to sell real estate in a struggling market, you need to know what you are up against. It is much more difficult to sell today than it was during the real estate boom that took place five to ten years ago.
Even though things are bad right now, you can still sell your home if you know what you are doing. It may take some creativity and marketing know-how, but you can make a deal happen if you put your mind to it.
At this point in time, you need to be willing to negotiate if you are going to sell your home. This is especially true if you are going to price your home higher than the competition. With so many homes on the market, you need to be willing to negotiate in order to ?stay in the game.? While you want to get the best possible deal, you should also be open to negotiations.
Who is going to sell your home? Some people feel that hiring a real estate agent is the best move because they can help find qualified buyers. Others would rather sell by owner to avoid paying a commission. There are both pros and cons to hiring a real estate agent.
The market in your area may not be as bad as other parts of the country. But of course, it could be worse. Selling real estate in a down market has a lot to do with your willingness to negotiate, your home, and your creativity.
How to Avoid Foreclosure
Your home is your castle, but unfortunately many Americans are currently facing dethronement, or foreclosure. If you’re one of these unfortunate people who may be losing your house due to foreclosure, there are some steps you can take to help you avoid losing your home.
