My friend John who is also a disabled Veteran, is living on Social Security disability. Nationally this pays about 1350 a month on average. John is currently living in a building that has been sold and all the residents need to move out by the end of July.
John has lived there 7 years and paid his rent on time every month. He also gets HUD Section 8 housing assistance for Veterans. This means HUD pays about 2/3rds of his rent and he pays the remainder plus a utility fee for water, gas, and trash removal. This is about 300 dollars a month.
Now keep in mind, we are just exiting the COV19 economic shutdown here. Many businesses are still not operating with full staff.
John has applied at 2 apartment complexes for a 1 bedroom apartment. Each complex charged John an application fee of between 25 and 40 dollars.
He just found out neither of the apartment complexes will rent to him without a co-signer or a guarantor. This is because he has no credit history - he doesn't use credit, and unbeknownst to him, each of these apartment companies have a policy that the renter have 2.5 or 3.0 times the rent, in income to be qualified to rent.
John's income is 1350, plus HUD amount of 400 for a total of 1750. Under these rules, he would qualify only for an apartment that costs less than 700 a month for a 2.5x requirement, or 583 a month with a 3x requirement. He will not qualify for any apartment at either of these places, and is now out his 65 dollars wasted on application fees.
Now when is the last time you found a decent apartment not in down town GR, in a high crime area, or worse, for less than 700? Its been at least 5 years. The average apartment now is 800 or more for a 1 bedroom, and I have found them as high as 1200 a month!
The fact that these 2 apartment complex's did not disclose their Income requirements on their applications, is something that I think could be seen as false and misleading information designed to get people to spend money for an application fee that the company knows many will fail. This is just wrong.
So my advise to any of you - before you pay money for an application, Inquire about income requirements. If they refuse to answer you, Look somewhere else. A company that does not make full disclosure up front at the beginning will only be trouble later on.
He just found out neither of the apartment complexes will rent to him without a co-signer or a guarantor. This is because he has no credit history - he doesn't use credit, and unbeknownst to him, each of these apartment companies have a policy that the renter have 2.5 or 3.0 times the rent, in income to be qualified to rent.
John's income is 1350, plus HUD amount of 400 for a total of 1750. Under these rules, he would qualify only for an apartment that costs less than 700 a month for a 2.5x requirement, or 583 a month with a 3x requirement. He will not qualify for any apartment at either of these places, and is now out his 65 dollars wasted on application fees.
Now when is the last time you found a decent apartment not in down town GR, in a high crime area, or worse, for less than 700? Its been at least 5 years. The average apartment now is 800 or more for a 1 bedroom, and I have found them as high as 1200 a month!
The fact that these 2 apartment complex's did not disclose their Income requirements on their applications, is something that I think could be seen as false and misleading information designed to get people to spend money for an application fee that the company knows many will fail. This is just wrong.
So my advise to any of you - before you pay money for an application, Inquire about income requirements. If they refuse to answer you, Look somewhere else. A company that does not make full disclosure up front at the beginning will only be trouble later on.
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