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Low Income Apartments

My dad is disabled and currently collects SSI. This is the only source of income that he has and he has no assets. Since he gets barely any income, he has had to move out of his current apartment. They had been raising the rates on him every year for awhile and he just cannot afford it anymore. He has looked at other places in town but none of them are within his price range. He was close to giving up and was considering moving into a place with roommates.

Income restricted apartments are apartments that require potential renter's to have a yearly income between a certain level. For example, they could request that your income be between $20,000 to $30,000 per year. These numbers could be different depending on where you live. The reason owners of income restricted apartments for rent restrict income is because that way they can get tax benefits. Most people that live in income restricted apartments are people making a low income and students.

Another way to find low income apartments is by going to apartment finders. These are full service businesses that connect apartments with renters. The apartment finders get a commission if people that they referred sign a lease so you can use their service for free. Just tell them that you are specifically looking for income restricted apartments and they'll help you find those.

Once you've found a income restricted apartment, you have to show proof that your income is within their restrictions. To do this, provide to them your most recent pay stub. For students, you may have to ask the school to write a letter stating what your income is. If your income happens to fall below the minimum income requirement, you can show proof that you get additional income from your parents or whoever else is supporting you. Grants and scholarships that you got can also be added into the income restriction requirement. After you provide proof then everything else should be the as applying for any other apartment.



Views: 361 | Added by: mescalinee-1973 | Tags: Low, Income, apartments | Rating: 0.0/0
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