Alex Beaver

How to Find Inexpensive Housing in Alabama

Posted on by Alex Beaver

Alabama enjoys some of the lowest housing prices and rental rates in the nation. The median rental rates in Alabama are significantly lower than the national average, but that doesn’t automatically make them affordable. Here in Alabama, as in the rest of the country, rental rates frequently rise more quickly than incomes do, making it just as challenging for individuals and families to find affordable housing here as in other states. That being said, it is possible to find inexpensive housing in Alabama — or more to the point, housing you can afford — by making a plan and being strategic in your efforts. The following guide can help.

Determine What Is Affordable for Your Household

What defines “affordable housing” for most households? The federal government considers housing affordable when the total cost of rent is at or below thirty percent of the household’s gross monthly income. That amount, according to most financial experts, is the most you should pay in order to meet your other monthly expenses comfortably. Let this be your starting point. Add up all sources of income within your household, then calculate 30 percent of that amount. If your household’s monthly income is $3000 per month, your rent should be no more than $900 per month. If it’s only $1500 per month, you can afford a monthly rent of $450.

Look for Rentals within Your Price Range

Once you know your price range, try searching at local agencies or on the Internet for rentals in that range or below. If your affordable threshold is low, you may face some challenges in finding the right space. If you do find a place you can afford, you may have to sacrifice space, amenities or an optimal location. Resist the temptation to rent beyond your means as this is can lead to even more hardship.

Try Qualifying for Affordable Housing

If your income is less than 60 percent of the average median income (AMI) in your area, you may be able to qualify for a number of government programs designed to keep rent in the affordable range. If you qualify, these programs will subsidize the excess rent so your costs don’t exceed 30 percent of your income. This may allow you to live in a more comfortable space without jeopardizing your budget. Programs may include public housing, Section 8 vouchers, income-restricted or income-based apartments, etc.

To apply for affordable housing, take the following steps:

  • Gather documentation that proves your household income. Examples include prior year tax returns, pay stubs from your employer, etc.
  • Apply for assistance at your local housing authority. The Alabama Association of Housing and Redevelopment Authorities (AAHRA) maintains a city directory of housing offices. The housing office will help you determine which programs you may be eligible for as well as provide a list of affordable housing complexes in your area.
  • Check qualifying properties in your area to find your new home. When filling out rental applications at these properties, make sure to bring your proof of eligibility.

Finding inexpensive housing in Alabama can be a challenge, but by making a plan and taking advantage of available assistance, you can find a comfortable home you can actually afford. To learn about available affordable Alabama properties in your area, call Olympia Property Management at 256-894-2382.

Nearly Half of U.S. Renters Are Burdened by Housing Costs

Posted on by Alex Beaver

Nearly Half of U.S. Renters Are Burdened by Housing Costs

Over the past ten years, the American economy has been on a rapid rise, yet more and more people are struggling to afford rent. According to the new report published by Apartment List, almost half of American renter households can be classified as cost-burdened, spending more than the recommended 30% of their incomes on rent.

As of 2017, the share of cost-burdened renters was the highest in Florida with 56.4%.

Cost burden rates tend to be highest in coastal areas with high housing costs. Miami has a cost burden rate of 62.7% the highest of the nation’s 100 largest metros. However, that rate is generally decreasing. Just within the last year, it decreased from 62.8% in 2016 to 62.7% in 2017.

At the state level, Florida has the highest cost burden rate at 56.4%. Nearly one in three cost-burdened renters (30.8 percent) lives in California, New York or Florida. Out of all Southeastern states, Florida also has the highest rate of severely cost burden renters at 28.8%, which means that they spend over 50% of their household income on rent.

The Carolinas, Kentucky, Georgia, and Maryland have seen an increase in cost burden rates in their capital metropolitan areas.

Other states have seen an increase in cost burden rates since 2016. In Columbia, SC the numbers increased from 49.8% in 2016 to 51.1% in 2017. The metro has the #31 highest cost burden rate of that nation’s 100 largest metros. The cost burden rate in Frankfort, KY increased from 30.8% in 2016 to 39.7% in 2017. This is less than the national average of 49.5%.

Cost burden rates have been increasing in Atlanta, GA, placing it in 47th place out of 100 national metros. The numbers have increased slightly, from 48.4% in 2016 to 48.6% in 2017. Overall, Maryland also had a significant increase in cost burden with a jump from 48.9% to 50.0%.

Despite an increase, Raleigh, NC has the nation’s #8 lowest cost burden rate. The cost burden rate in Raleigh increased from 42.1% in 2016 to 42.5% in 2017. Raleigh has the #8 lowest cost burden rate of nation’s 100 largest metros. 17.7% of renter households in Raleigh are severely cost-burdened, while 24.8% are moderately burdened. The of cost-burdened renter households in Raleigh has increased by 13,787 since 2007.

Alabama, Tennessee, Virginia, and West Virginia saw a decrease in the cost burden rate of their capital metropolitan areas.

Montgomery, AL has the nation’s #35 lowest cost burden rate of the nation’s 100 largest metropolitan areas, with the numbers falling drastically, from 57.1% in 2016 to 53.5% in 2017.

Nashville, TN had a noticeable decrease from 44.6% in 2016 to 43.8% in 2017. Currently, the metro is ranking as the #13 lowest cost burden rate.

In Virginia, Richmond’s cost burden rate also decreased from 50.6% in 2016 to 37.7% in 2017. Richmond has the #35 lowest cost burden rate. In Charleston, WV placed in 35th place, with rates also decreasing, from 50.2% in 2016 to 42.3% in 2017.

Rents rising across cities in Southeastern metropolitan areas.

Rent growth in the Southeast has been relatively stable over the past year. Compared to most similar cities across the country, Southeast is more affordable for renters. In North Carolina, Wilmington, Asheville, and Cary have all experienced year-over-year growth above the state average (3.5%, 2.7%, and 2.2%, respectively). Atlanta rents have remained flat over the past month, however, they have increased slightly by 1.5% year-over-year. In Florida, Miami rents have increased 0.8% over the past month, and are up marginally by 0.8% in comparison to the same time last year. Throughout the past year, rent increases have been occurring not just in the city of Miami, but across many metros across the Southeast.

Luckily, the number of rent-burdened households has started to fall and is currently lower than the 2014 peak by 774,000 households. That said, the total number of rent-burdened households remains higher than the 2007 level by 3.1 million households.

At last, Apartment List explored the relationship between income growth and cost-burden increase. Below is a chart that demonstrates that when income growth outpaces rent growth, cost burden rates will tend to fall.

A lack of affordable housing in areas of economic opportunity remains one of the most pressing issues. Households that struggle to pay rent oftentimes have to cut back other basic necessities, which can result in adverse and long-lasting consequences. While the data do show some improvement, there is still much left to do to ensure that everyone can afford a place to live.

 

Marshall Gardens: Access to the Best of Milan, TN

Posted on by Alex Beaver

Conveniently situated five minutes from the central business district of Milan, TN, the comfortable apartment community of Marshall Gardens offers affordable housing for individuals and families with limited budgets. Located in the heart of West Tennessee, close to shopping, dining, outdoor activities and an easy drive to two major cities, Marshall Gardens gives its residents access to the best of everything.

About the Complex

Set on spacious landscaped grounds with plenty of parking, Marshall Gardens offers the best quality of affordable housing in Milan, TN. These eight comfortable floor plans of one, two or three bedrooms. The kitchen in every unit is well equipped with range, dishwasher, garbage disposal and a refrigerator with ice maker. Each unit also has central heat and air, along with washer/dryer connections. The grounds themselves offer plenty of conveniences, including a clubhouse with a computer room and laundry facilities, outdoor picnic area with barbecue grills, a gazebo for gatherings with family and friends, and a playground for the kids. Shopping, dining, and healthcare facilities are all within minutes of the complex.

About Milan, Tennessee

Home to just under 8,000 people, the town of Milan, Tennessee was named after Milan, Italy, but for as long as can be remembered, its residents have always pronounced it “MY-lin” instead of “Mi-LAHN.” Historically a farming community, Milan was a pioneer in the state for “no-till farming” (a method of planting crops without disturbing the soil), and the town celebrates this practice annually with its “Milan No-Till Field Day.” Nowadays, Milan is also an industrial hub for the region and is home to the Milan Army Ammunition Plant.

With just under 8000 people, Milan is large enough to offer plenty of conveniences and services such as shopping, dining, and healthcare while maintaining its small-town charm. Residents and visitors enjoy attractions like the West Tennessee Agricultural Museum, as well as outdoor recreation at nearby parks and Gibson Lake. For additional shopping, dining and things to do, Memphis is about a 90-minute drive west, and Nashville is just over 2 hours to the east.

As an income-restricted community, Marshall Gardens enables qualified individuals and families to enjoy comfortable housing in the heart of one of America’s great small towns. If you live near Milan or plan to make your home here, we would love to show you around your new home. providing comfortable housing to qualified individuals and families. Call Olympia Property Management today at 256-894-2382 for more information.

Olympia Management Supports Breast Cancer Awareness Month

Posted on by Alex Beaver

1 in 8 womenCherylene Kappes Breast Cancer SurvivorOlympia Management is excited for our employee, Cherylene Kappes, who is breast cancer survivor. It has been 3 years since her surgery and Breast cancer survivor ribbontreatment. She received her 1 year All Clear October 4, 2018.

Olympia Management showed its support for Breast Cancer Awareness Month wearing pink or pink ribbons on Friday, October 12, 2018, and all month long. Olympia Management encourages you to participate in the Marshall Medical Centers Pink Pumpkin Run October 27, 2018. You can register here: https://raceroster.com/events/2018/16799/9th-annual-pink-pumpkin-run

There are other ways you can show support. You can host or attend a fundraiser for cancer research or supporting local cancer organizations. There are many worthy organizations that support breast cancer patients and survivors. Many of these organizations have small budgets but do amazing things. Making a monetary donation is a great way to show your support during Breast Cancer Awareness Month. Before you donate, do some homework though. You want to make sure your money is going to HELP women through their journey with breast cancer. Many larger charities have high administrative costs that eat up donations, so if you really want to make a difference, research the charity before you donate to make sure your dollars will be well spent. If you can’t make a monetary donation, many non-profits focused on breast cancer have volunteer opportunities. Consider donating your time. To a non-profit, manpower and brain power is just as important and monetary donations.

Supporting the survivors quotePlease join us in supporting Breast Cancer Awareness not only in October but all year long. For more information on breast cancer, here are some informative links to organizations.

https://www.nationalbreastcancer.org/breast-cancer-awareness-month

https://www.breastcancer.org/

 

Steps for Applying for Affordable Housing

Posted on by Alex Beaver

With rental rates on the rise across the nation and wages not increasing to match, more and more individuals and families are struggling to find affordable housing. The good news is that a number of federal and state programs are in place to help low-income households afford housing costs. These include subsidies paid to qualifying properties, public housing and Section 8 vouchers. If your income is 50 percent or less than the area median income (AMI) in your area — and in some places as much as 80 percent of the AMI — you may qualify for affordable housing. If you believe you may qualify, let’s look at the steps to take to apply for assistance.

Get Your Proof of Income in Order

Qualifying for affordable housing is primarily about proving how much money you make in comparison to the median income for your area. In general terms, you are considered low income if you earn less than 80 percent of the AMI, very low income at less than 50 percent, and extremely low income at less than 30 percent. These numbers are based on percentages rather than actual dollar amounts because the median income can be vastly different in different parts of the country. For instance, a family of four in San Francisco (the most expensive part of the country) can make as much as $117,400 per year and still be technically considered low income. Conversely, in Huntsville, Alabama, that same family of four qualifies as low income only if they make less than $62,950.

You may or may not know the median income for your area and how your income compares, although a simple Google search may tell you. However, when you apply for affordable housing, your proof of income is the first thing they will ask for — so get this step done in advance to save time. Assemble any tax returns from the past couple of years, bank account information and pay stubs from the past several months (including welfare checks, unemployment and/or disability). Repeat this step for every person in your household who generates an income. Keep this information handy when you apply.

Apply at Your Local Housing Authority

While housing subsidies are backed by the federal Department of Housing and Urban Development (HUD), they are administered by local housing authorities. These agencies keep a record of available housing options in your area and are responsible to help families find the housing solution that is right for them, so far as the funds allow. Once you have your income and financial information together, it’s time to apply for assistance at your local housing authority. If you don’t know where to apply in your area, the HUD website has a local resource locator feature that can help you. Your local housing authority can help evaluate your income and let you know what subsidies you qualify to receive, if any. Housing assistance options may include income restricted housing (reserved for 50 percent AMI or less), income-based housing (60 percent AMI or less), Section 8 vouchers, public housing, etc. Hint: Don’t be surprised if you end up on a waitlist even if you qualify. Some regions have many families who need affordable housing, yet have limited resources. Be patient with the process.

Look at Qualifying Low-Income Housing Options

Once you’ve qualified for affordable housing and know what benefits you’re qualified to receive, take a look at affordable housing complexes in your area and begin looking for a place to live. Your local housing authority can provide you with a list of options, or you can find specific management companies or properties designated for low-income families. We recommend going on-site and touring the facility and the apartments/houses before making a decision.

Olympia Property Management specializes in providing comfortable, affordable housing for qualifying low-income individuals and households. To see what we have available in your area, call us today at 256-894-2382.

4 Resources for Finding Inexpensive Senior Housing

Posted on by Alex Beaver

As rental rates continue to rise across the nation, senior citizens on a fixed income continue to feel the pinch. The economic crunch can be even more severe as seniors get older and require more care and services. Even for those who have managed to save a nice “nest egg,” it doesn’t take long these days for savings to be depleted — and many seniors don’t even have that luxury. How can seniors live comfortably and affordably at a time when continue to rise?

Fortunately, there are options for older citizens to find inexpensive senior housing — if you qualify and know where to look. If you’re over the age of 55 and struggling to find a rent you can afford, here are four resources for which you may be eligible.

Veterans Senior Housing Benefits

The U.S. Department of Veterans Affairs (VA) offers a wide range of assistance options for people who have served in the armed forces, from medical benefits to pensions and senior care benefits. If you are a spouse or survivor of a deceased veteran, you may also be eligible for assistance. The VA offers a number of benefits in addition to pensions that may help with housing costs, including Aid & Attendance (if you require in-home care or are bedridden), Housebound benefits and others. Even if you don’t need extended care at this time, some of the benefits may help offset your rent. Check with your local VA office to find out which services you may qualify to receive.

Faith-Based Senior Living

Another resource many seniors overlook in seeking inexpensive senior housing is the help of their religious organization, denomination or house of worship. Many denominations and religious organizations provide financial, housing and senior care assistance for their older members. In many cases, as with many Catholic charities like the Sisters of Mercy and Catholic Community Services, you don’t have to subscribe to that particular religion or denomination to receive the benefits or to live in their senior living or assisted living facilities. Start by checking with your local church or synagogue to see what programs they may offer. For a list of faith-based organizations that may offer senior housing assistance, click here.

Masonic Senior Living

If you or your spouse is/was a member of the Freemasons, you may also be eligible for a number of senior living options these organizations offer. The Masons are known for taking care of their elderly members and families, and they offer a variety of benefits including independent senior living, assisted living, home care and more. Check with your local Masonic organization to see what housing options they may offer for seniors on a limited income.

HUD Senior Living

If you are 55 and over and need affordable housing, you may be eligible for government programs that enable you to live in comfortable, affordable housing designated for senior living. These benefits are underwritten by the U.S. Department of Housing and Urban Development (HUD) and may include public housing (government-administrated), multi-family subsidized senior housing, and housing vouchers that enable you to choose from eligible properties. To see if you qualify for HUD senior housing programs, check with your local housing authority.

Olympia Property Management is pleased to administer many safe and affordable housing complexes designed to meet the needs of senior citizens. To see what we have available in your area, call us today at 256-894-2382.

Vista Ridge Offers Affordable Living in Soddy-Daisy, Tennessee

Posted on by Alex Beaver

Located at the base of the Cumberland Plateau in the bedroom community of Soddy-Daisy, Tennessee, Vista Ridge offers a variety of spacious and affordable apartments for low-income families, providing an excellent combination of comfort, convenience and suburban living. Close enough to the amenities and services of Chattanooga, yet far enough away to enjoy the quiet and serenity of the country, residents of Vista Ridge enjoy the best of both worlds.

About the Complex

Vista Ridge itself is conveniently situated just off of US-27 not far from the town’s commercial center. The complex consists of a cluster of buildings on well-kept grounds, offering six different floor plans of one, two or three bedrooms. All units are equipped with central heat and air, range, refrigerator and washer/dryer hookups for convenience. The clubhouse includes a fully-equipped kitchen perfect for parties and community events, and on the grounds, you’ll also find a spacious picnic/grilling area, a playground for the kids, and park benches for enjoying the great outdoors. Shopping and dining options are conveniently located along US-27, including a Walmart Supercenter just minutes away.

About the Area

Home to about 13,000 people, the city of Soddy-Daisy derives its unusual name from two other communities that officially merged into one town in 1969. Today, it’s a convenient suburb just 20 minutes from the shopping, dining and attractions of Chattanooga, Tennessee, providing its residents the combined advantages of living in a quiet small town with the urban conveniences of a larger city. For nature buffs and outdoor enthusiasts, Soddy-Daisy is also convenient to several marinas and state parks along nearby Chickamauga Lake, while the scenic Appalachians are also a short drive to the east.

Vista Ridge is an income-restricted community that offers a quality, clean living environment in the heart of southeastern Tennessee. If you live in this area and need affordable housing for yourself or your family, we’d love to give you a tour of Vista Ridge. To learn more about this complex and the surrounding area and to take a personal tour of your new home, call Olympia Management today at 256-894-2382.

11 Questions to Ask Before Signing Your Lease

Posted on by Alex Beaver

Signing a lease on a new apartment can be both an exciting and hectic time. There are also a lot of details to consider, and if you are in a hurry to get settled into a new place, it could be easy to overlook some important details when it comes to your lease. Remember, you’re bound by the lease, so it’s important to understand what’s in it, as well as what the landlord or management company expects of you when you become a tenant. Before signing any lease, here are 11 important questions you need to ask.

1. How long is the lease?

This will usually be stated up front, but it’s important to know how long you’re committing to live in the apartment nonetheless. If you’re unsure of your long-term needs, a shorter lease might be better for you; if you’re looking for rent stability, a longer lease is better. You may also be able to negotiate for lower rent if you agree to sign a longer lease.

2. What utilities are included in the rent?

Some apartment communities include water and/or garbage pickup in the rent; others may require you to pay it separately. Some complexes even cover all utilities. Whatever isn’t covered in the rent will be an extra expense to you, so make sure you know your financial responsibilities upfront so you don’t have budget problems later.

3. Is the security deposit refundable?

In most cases, the answer to this question is yes — unless they tell you otherwise, you should get your deposit back when you leave. However, in most cases, this is conditional on keeping your apartment in good condition. The deposit basically covers the landlord against financial liabilities if you skip town or do damage. So find out what the landlord expects as far as keeping your apartment in good order so you can get your full deposit back.

4. Will you change the locks before I move in?

This is an important question to ask because sometimes previous tenants keep a copy of their key, and you don’t want a stranger having access to your unit. If the management doesn’t plan to change the locks, ask for it for your own security.

5. Will you do a walk-through with me before I move into the apartment?

Your responsibility is to leave your apartment as you found it, minus perhaps normal “wear-and-tear.” If your unit isn’t in pristine condition when you move in, you don’t want to be held responsible for damage that existed before you got there. A walk-through lets you point out areas of existing wear, tear and damage so you the landlord doesn’t take the cost of these repairs out of your security deposit.

6. Am I allowed to make changes to the apartment?

Some complexes allow you to paint the walls; some don’t. Some will let you as long as you paint it back. Some require you to fill any nail holes before you leave. Make sure you know what the management allows before you move in and start “personalizing,” to avoid any penalties or losing your security deposit.

7. What is the “grace period” for rent?

Rent is usually due on the first of the month, and most leases allow you a few days grace to get the rent in before charging you a late fee. Make sure you know how long this period is in case you need a bit of extra time on occasion. Also make sure you know how much the fee is since these can really add up.

8. What is the pet policy?

Does the complex allow pets? If so, do they charge an extra deposit or pet rent? What if you get a pet while you live there? If you plan to have a dog, cat or other pet, find out the management’s policy and be up front with them. If you “surprise” them without notifying them of your intentions, your lease could come into jeopardy.

9. What is the response time for maintenance requests?

Management is responsible for responding to repair and maintenance requests in a reasonable amount of time. Asking this question keeps the landlord accountable and keeps you informed as to what to expect as far as turnaround time.

10. How do I reach you for after-hours emergencies?

Your management should have an after-hours “emergency” policy in place for urgent repair needs — for example, if a pipe breaks or the heat goes out in extreme cold temperatures. Make sure you know how to reach them if you need to. For life-threatening emergencies like fire or domestic violence, always call 911 first.

11. What are the penalties if I have to break the lease?

Sometimes “life” happens, and you may have to move out before your lease is up. Many lease agreements have some sort of exit clause that assesses a modest penalty if you have to break the lease; other times, the management may hold you responsible for the full amount your unpaid lease. Make sure you know what’s expected before signing, and make sure you’re okay with it.

At Olympia Management, we try to make our lease agreements as fair as possible for our tenants, and we’re happy to make sure you’re okay with the terms before signing. To take a tour of one of our complexes, call us today at 256-894-2382.

Affordable Apartment Living Near Beattyville, Kentucky

Posted on by Alex Beaver

Situated near the edge of scenic Daniel Boone National Forest, the Falcon Ridge apartment community in Beattyville, Kentucky, offers a selection of clean, affordable apartments for low-income households in a beautiful wooded setting. Conveniently located minutes from the shops and restaurants of Main Street, residents of this community enjoy the quiet, small-town atmosphere with easy access to plenty of great outdoor recreational activities, both at the headwaters of the Kentucky River and in the forest and mountains beyond.

About Falcon Ridge

Falcon Ridge offers a variety of 1, 2 and 3-bedroom units with five available floor plans. All apartments are equipped with central heat/air, range, refrigerator and washer/dryer hookups, and each unit is pre-wired for cable. The property itself also features a picnic and playground area for family gatherings, as well as on-site laundry facilities for those who need it. Management is available on-site at the office to see to our residents’ needs.

About the Area

Known as the “birthplace of the Kentucky River,” the small city of Beattyville enjoys a natural setting between the river and the beginnings of the slopes of Daniel Boone National Forest. Once a coal-mining community, this town of 1300 people is now positioned as a hub for visitors who come to the area to enjoy nearby outdoor activities such as rock climbing, zip-lining, mountain biking, hiking, canoeing and more. The commercial center of town lies along and near the intersection of Main Street and Broadway about a block from the river, where you’ll find a variety of locally owned shops and restaurants. Beattyville hosts several community events each year, most notably the Wooly Worm Festival held each October, with a wide range of events such as a 5k run/walk/crawl, car shows, pet shows and (you guessed it) wooly worm races, as well as a full slate of live entertainment.

Falcon Ridge is an income-based community designed to provide comfortable, affordable housing to low-income individuals and families. If you’re looking for a home in the Beattyville, Kentucky area, we’d love to give you a tour of the grounds and show you around your new home. To check availability and schedule an appointment, call Olympia Property Management today at 256-894-2382.

 

 

How Long Can I Stay in Affordable Housing?

Posted on by Alex Beaver

There are many different types of housing options for low-income households in an attempt to keep housing affordable, especially as market rents continue to climb. Public housing and Section 8 programs often have a wait list, while income-based and income-restricted complexes are frequently at or near capacity due to demand. So what happens when you finally qualify and get into your apartment? What if your income increases and you no longer officially qualify for affordable housing or low-income housing? Do you have to move?

One of the nagging questions low-income renters ask is, “How long can I stay in affordable housing?” The short answer is, “As long as you pay the rent on time.”

That answer, of course, comes with a few qualifiers.

The goal of all government-subsidized housing programs is not just to help people afford a decent place to live, but also to create stability in their living situation. Specific rules may vary slightly by location, but once you’re in affordable housing, you generally won’t be asked to move out even if your income increases beyond the point of qualifying for affordable housing. That said, your local public housing authority (PHA) may adjust your subsidy according to changes in your income.

Report Changes in Your Income or Living Status

Once you have qualified for affordable or low-income housing, anytime you experience a change in income (for example, if you get a job, or get a large raise), or if your family situation changes (e.g., marriage, divorce), you’re required to report it to your PHA. Your subsidies may be adjusted accordingly, but if they discover you haven’t reported these changes, they may revoke your benefits completely.

Periodic Re-Certification

From time to time, your PHA may specifically ask you to update your income and family status to re-certify you to receive benefits. The amount of support you receive may be adjusted up or down based on whether your income has increased or decreased.

What If My Increased Income Means I No Longer Qualify to Receive Housing Benefits? Will I Be Asked to Leave?

Not to worry. In most, if not all, situations, once you’re in affordable housing, you won’t be asked to leave because your income increased. However, your subsidies may decrease accordingly, and you may be asked to pay a greater share of the market value of your rent. If your income increases to the point that you no longer qualify to receive any affordable housing benefits, you’ll be allowed to stay in your apartment, but you may be asked to pay the full market value for the rent.

What About Lease Renewals?

What happens if your lease comes up for renewal on your income-subsidized apartment, and you no longer qualify for affordable housing benefits? Will you have to move?

The answer to this question depends on a number of factors, including:

  • Local regulations for apartment complexes receiving government benefits and tax credits
  • Whether the landlord would have decided not to renew under normal circumstances
  • Whether the landlord offers you a month-to-month option
  • Whether you have given the landlord a valid reason not to renew your lease (e.g., consistent late rent payments, poor upkeep, failure to follow complex rules)
  • Whether the complex itself is being sold or torn down for any reason
  • Whether the regulation household status fails to meet the requirements (e.g. full-time student household size changes)

The best way to get an answer to this question for your specific situation is to contact your local PHA to find out their rules and guidelines, and check with your landlord or management company to find out their policies, as well. However, as a rule of thumb, once your income increases to the point that you no longer need housing benefits, you should expect the same treatment from your landlord under as if you had rented your apartment without government help, subject to local and state laws governing tenant/landlord relationships.

To summarize, you should be allowed to stay in affordable housing for as long as you make your rent payments and for as long as you have a valid lease or month-to-month agreement with your landlord — even if your income increases.

 

At Olympia Management, we follow local regulations carefully with all our properties across multiple states when it comes to providing affordable housing for those who qualify. Beyond that, we also do our utmost to be fair in our dealings with new applicants and current tenants. To learn more about the policies of an individual property, give us a call at 256-894-2382.

Affordable Senior Living in Brownsville, Tennessee

Posted on by Alex Beaver

Located on the north side of the small town of Brownsville, Tennessee, Broadway Manor offers well-appointed, affordable living spaces for low-income senior citizens. Conveniently situated just five minutes from the shops, restaurants, and services of downtown Brownsville, this apartment community offers the comforts and conveniences of home while catering to the needs of older adults.

About the Apartment Community

Apartments in Broadway Manor are designed with seniors in mind, with three available layouts of one or two bedrooms each. All these income-restricted housing units in Brownsville have central heat and air, as well as a refrigerator, oven and cooktop range. The grounds also feature a clubhouse with an equipped kitchen and community room for gatherings and events, as well as an outdoor picnic area with a grill so you can enjoy leisure time with family and friends. Most importantly, the complex has an attentive, trained staff to meet to the needs of our senior tenants.

More About Brownsville, Tennessee and Vicinity

Originally settled as a cotton town in 1812, the city of Brownsville, Tennessee today is home to 10,000 people, yet it maintains its rural, small-town atmosphere while offering modern conveniences. With many of the old antebellum plantations homes still intact, Brownsville has several historic districts and numerous sites listed on the National Register of Historic Places. As the childhood home of Tina Turner, Sleepy John Estes and other music icons, Brownsville also has a rich musical legacy, encapsulated in the West Tennessee Delta Heritage Center which is definitely worth a visit. Most of the town’s shopping and dining options can be found along historic Main Street just a few minutes from the complex. For more shopping and day trip options, Memphis is just over an hour’s drive to the west along I-40.

Broadway Manor is an income-based property designated to serve the needs of low-income adults aged 55 and up. If you live in west Tennessee and need comfortable, affordable housing with easy access to services and amenities, we invite you to consider Broadway Manor in Brownsville, Tennessee. To take a tour of your new home, call Olympia Management today at 256-894-2382.

Employee Spotlight – Cathy Wortham

Posted on by Alex Beaver

Cathy Wortham Employee SpotlightOlympia Management is proud to honor a very special employee, Cathy Wortham, for her exceptional work ethics and dedication to her job and tenants in our “Employee Spotlight.” Cathy Wortham has been with her two properties since 2000 and with OMI since September 2014.

In 2002 Cathy was nominated and won the Manager of the Year award by the Alabama Affordable Housing Association and in 2003 won the Manager of the Year award by the National Council for Affordable and Rural Housing and traveled to Washington D.C. to receive her award. Cathy is the first Alabama manager to ever be honored with this national award!Heflin Hills landscaping

 

Cathy enjoys her work and takes pride in her property. She believes that the yard gives the first impression when people arrive at the property. Cathy says “I have wonderful tenants. It’s hard when you lose a tenant. If you enjoy doing your job, they become your family. My motto is ‘Treat your tenant the way you want to be treated.’”

Windsor Place Halloween decorationsCathy has many activities for her tenants throughout the year. There are bingo nights, Holiday gatherings, and carnivals to name a few. The tenants appreciate the useful gifts and prizes she gives such as canned goods, paper goods, cake mixes and other things they can use because she knows how hard it can be to make ends meet. Cathy also gives her tenants a new calendar book each year to keep up with things. During Holiday times the tenants go all out decorating for the holiday and they delight in when the town comes out to enjoy the Holiday decorations each year.

Cathy says “I love my job. The people I work with at the office are like family, always willing to help when you need them. “

Christmas Decoration of Tenants Windsor Place

Olympia Management, Inc. exists to meet the needs of the affordable housing community by providing top quality living conditions, excellent management, compassionate interaction with tenants, and consistent security. We are grateful to have such an employee dedicated to the community, the people, and the company.