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Old 04-04-2012, 08:21 PM
 
178 posts, read 232,619 times
Reputation: 291
Default How does low income housing work?

I've been living in my apartment for a year and just renewed my lease. My original lease was for $800 a month, and with my new lease I'm paying $820.

A few months back, I saw an advertisement in the local newspaper offering units the same size as mine (1 bed, 1 bath) for $600, 2-bedroom units for $700, and 3-bedroom units for $850.

I discussed this with my property manager today and apparently the person(s) who own the property receive a tax credit for having a certain number of units designated as "low income." According to the property manager there are 2 units out of about 75 on the property that are designated as "market rate" units, one of which is mine.

How do these tax credits work? What don't understand is why I'm being forced to pay $200 more than a number of tenants in my complex who has the exact same amount of space as I do. I doubt that this practice is illegal, but in my opinion this practice is HIGHLY unethical.

For what it's worth, I live in Colorado.
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Old 04-04-2012, 10:01 PM
 
Location: Brookings
65 posts, read 89,868 times
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it is to offer safe and affordable housing to low income and disabled people. It usually goes by income so if your income is below the specified amount for 1 person you could be getting one too.
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Old 04-04-2012, 11:03 PM
 
Location: Mostly in my head
16,268 posts, read 29,836,920 times
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People qualify for this based on their income and family size. It's been around a good long time, surprised you didn't know of it. Subsidized housing, Sec. 8, tax credits - all serve the same purpose which is to provide housing assistance to those who need it.
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Old 04-04-2012, 11:17 PM
 
4,919 posts, read 10,116,526 times
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In addition, in some areas where rental rates are sky high, communities may make deals with developer that in exchange for increasing density, a certain number of units are to be held for those who qualify except their income is too low. This may take the form of outright reduction in use fees or a longer term tax credit for each year the units remain income specific.
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Old 04-05-2012, 01:00 AM
 
Location: Texas
18 posts, read 60,654 times
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This is true such units are for low income group people who cannot afford expensive housing. That is why tax credit is offered in such cases. There is nothing illegal rather this is for the welfare of everyone around. If you also fall in the low income group you should apply for the same.
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Old 04-05-2012, 05:33 AM
 
4,591 posts, read 5,707,930 times
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the lady across the hall from me pays $150 more per month than I do and we have the same exact unit...I've lived here 3yrs, she moved in last summer. Not all units are going to be rented at the same rent.

If your complex has that many low income units, I'd be looking to move...there is now way I'd be living in a low income housing complex.
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Old 04-05-2012, 08:39 AM
 
Location: St Thomas, US Virgin Islands
21,636 posts, read 25,212,126 times
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Quote:
Originally Posted by Kim in FL View Post
If your complex has that many low income units, I'd be looking to move...there is now way I'd be living in a low income housing complex.
Why not? Just curious.
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Old 04-05-2012, 09:01 AM
 
3,204 posts, read 3,682,900 times
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Quote:
Originally Posted by STT Resident View Post
Why not? Just curious.
Frequently, but not always, people have low incomes because of other problems. For example, I know a young man who can't get a job because of a criminal record. His mother can't get a job because . . . well, because she "ain't gonna do no work." The other son couldn't hold a job because of a drug addiction. He's not currently a financial burden on the family, though, as he is in prison for shooting someone.

Then you have the kids, who are likely to be unsupervised, drop out of school, use drugs, hang out with a bad crowd, etc. This is what people think of when they think of "low-income housing."

Low income areas also usually have more crime, worse schools, and few shopping options.

I have lived among low-income people who were hardworking and good neighbors, and I have also lived among those I just described. I wouldn't move out just because of low-income neighbors.
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Old 04-05-2012, 11:11 AM
 
4,591 posts, read 5,707,930 times
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Quote:
Originally Posted by STT Resident View Post
Why not? Just curious.


:::sigh:::: because of what I've seen happen to two very nice complexes that went low income...they turned into dumps in about 24 mths. It's really sad to see because these places were super nice.
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Old 04-05-2012, 12:06 PM
 
432 posts, read 520,187 times
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alot of low income complex are very nice clean well keep and well run(these ones are very picky ) and the people take pride in what they have. then you have the places that all they care is they get the money and rent to who ever meets the rules.(these are the ones we tend to see) and we read about them in the paper on drug bust and the like. in my home town has town home type duplex forlow income people and families. the place looks great been there since 1995. people keep the yards clean and nice the outside of the building are well keep buy the owners of property. like any rented space. it is all who you pick
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