What is Section 8?
Section 8, or the Housing Choice Voucher Program, is a federal
housing program which provides housing assistance to low-income
renters and homeowners. This assistance comes in the form of rental
subsidies. A voucher may be either "project-based" (where its use
is limited to a specific apartment complex) or "tenant-based"
(where the tenant is free to choose a unit in the private sector,
is not limited to specific complexes, and may reside anywhere in
the United States where a project operates a Section 8 program
(though in practice such portability is very difficult). Under the
voucher program, individuals or families with a voucher find and
lease a unit (either in a specified complex or in the private
sector) and pay a portion of the rent (based on income, but
generally no more than 30% of the family's income).
The BridgePoint Process
We not only renovate the property in such a manner that
qualifies for Section 8 but we also specialize in taking renovated
properties through the Section 8 government documentation process.
We are typically able to obtain Section 8 status within sixty (60)
days of filing, providing a government backed yield, which can be
immediately resold through our disposition team. In addition, we
will conduct a feasibility study to compare Section 8 versus
conventional rentals to assess the viability of the application of
Section 8 for any given project.
For more information on the BridgePoint Section 8
Consulting process, click here