Landlords asked to 'step up'... due to housing 'crisis'.
There is a story on about Forest Hills Apartments, on 7th Avenue in Garner. Apparently a lot of people there are on S-8 through RHA (apparently) and have been given notice to vacate.
The apartment sold on 2/21/2017 and the new owners plan to renovate, according to the story. I would expect rents would have a different price range after the renovation. Up... not down;) Regardless, the existing tenants have to go. From the story:
"There is a shortage of affordable housing in Wake County," said Sig Hutchinson, chairman of the county Board of Commissioners. "We need more landlords to step up and accept tenants with rental assistance vouchers so that these families can be sure to have a roof over their heads on June 16."
While I no longer follow RHA rates after , when we exited (94%, we still have 1) the S-8 program due to large rental rate cuts to landlords, I do wonder if Sig knows local HA history. I've posted about it . And . Blast from the past!
While I think it would be great if local landlords 'step up' and join 'the program', I can't help but wonder if Commissioners will brand landlords as 'slumlords' when S-8 tenants are put out. My view is that for real estate investors it's a lose/lose. The winners are making more than positions in LA, Chicago, and NYC with 10x the size.
I'd help, but I don't have any vacancies. We are down to only 3 properties in Raleigh proper. 1 is Section-8. That's 33%.
The real answer is to make new affordable housing. I'd like to hear if anyone is interested. I'm not in if it is in Raleigh, but surrounding communities... I'd consider. Doesn't have to be Wake county either. The game for me is small, affordable, with local town support, can be through HUD or not, and numbers have to have a chance after credits, incentives, and grants. Let me know what you think;)