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Under the Section 8 program, employed residents are required to provide their last four to six consecutive pay stubs to enable the owner/agent to calculate annual employment income.
HUD provides the following conversion schedule to enable the annualization of employment income:
According to HUD, an individual under 24 years of age and enrolled in an institution of higher education is ineligible for Section 8 benefits unless the student meets at least one of the following six preliminary exceptions:
During the certification process, owners are required to determine the value of eligible household assets and any income derived from such assets. Any asset income is included in the annual income calculation for the household.
Owners need to verify, among other things, the following asset information:
Any site risk mitigation strategy should include a procedure to track and review Certificates of Insurance (COI). The appropriate site manager should ensure that a COI is collected from any vendor and contractor working on your site as well as any tenant with a renter’s insurance policy.
The COI is usually issued by an insurance broker on an Acord 25 (Certificate of Liability Insurance) form to confirm the existence...
When the head-of-household, spouse, or co-head is elderly (62 years of age or older) and/or disabled, the household is eligible for a medical expense allowance. When the household is eligible for the medical expense allowance, the out-of-pocket, unreimbursed expenses of all household members (except live-in aides) are included in the medical expense calculation.
Exhibit 5-3 of HUD Handbook 4350.3 identifies various allowa...
When the head-of-household, spouse, or co-head is elderly (62 years of age or older) and/or disabled, the household is eligible for a medical expense allowance. When the household is eligible for the medical expense allowance, the out-of-pocket, unreimbursed expenses of all household members (except live-in aides) are included in the medical expense calculation.
Exhibit 5-3 of HUD Handbook 4350.3 identifies various allowable medical expenses, which includ...
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