If you are considering moving into low income apartments for rent, you may want to consider some of the pros and cons of such a move. These days, there are other options that you may want to consider, instead of living in a specific complex. Many people are surprised to know that they may not have to move to get assistance in paying rent or subsidized housing. Let’s explore some of the good and bad points of low income apartments for rent in your area, before you decide to apply for subsidized housing.
Nice Conditions: Most of the time, low income housing apartments for rent are well maintained and in very good condition. There are generally pretty strict requirements on landlords that get the subsidized housing payments, so you will generally have a nice place to live.
Set Percentages: Most of the time, you will have to pay a set percentage of your monthly pay for rent. This is generally much cheaper than if you rented housing that did not meet the criteria.
Long Term Stability: Generally speaking, once you move into low income apartments for rent you can expect to stay there for some time. Even if you start making a little more money in the household, you will have some stability. This is a very positive aspect this form of housing assistance that you need to consider carefully.
Everyone Will Know: Some may not care that everyone will know that you are living in subsidized housing, but some others may care a great deal. If you are very concerned with appearances, then living at low income apartments for rent may not be right for you. You may want to explore other government subsidized housing or simply applying for assistance in paying your rent.
Long Waiting Lists: Many of the nicer low income apartments for rent have long waiting lists of people waiting to move into them. This is at least part of the reason additional rent assistance programs were started. It’s something to consider if you are determined to move into a specific complex building.
Rent Increases: Low income apartments for rent have major flaw – the rent will increase as your income does. This means that if you get a promotion or land a great job, you may actually end up paying more for your housing than you would anywhere else. If you were simply on a government rent assistance programs, you could simply terminate your participation. It’s one of the more serious flaws with low income apartments for rent.