I have managed all types of proeprties before...market, college, tax credit, and rural development. I am now adding section 8 to my list. I must tell you, this is hard work. For anyone who thinks that they have a tough job, manage a HUD proerty. At least with tax creidt you recertify people annually and there are not a ton of occassions where you have to do an interim. At subsidized properties, I have to redo every file everytime something changes by $200 per month or if someone has a baby, etc. So at any given time I have 50+ files sitting on my desk being certified again.
A fun example that happens almost daily (extreme sarcasm)...
Someone gets a job at a local fast food store. Now they have $200+ in income a month so i have to verify, redo leases and paperwork. They now have a new rent figure, its all figured out. The day they come to sign that new lease they inform me that they no longer work there. Now we have to sign the lease and redo all the paperwork and I have to verify again that they no longer work there so adjust thier rent to $0. Then they have to sign a new lease again. But the kicker is.....in a month, they might find another job!
For every person out there who runs a subsidized property....I understand! You are a glutten for punishment...like myself!
The upside of running a subsidized property....there is never a dull moment! You are helping people get back on thier feet! you can really make a difference to some people! That out weighs all the negatives!
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