Phone: 603-641-2163

Stewart Property Management
Online Application Portal

We’re happy to see you’re ready to begin your application!

The first and most important decision you need to make is what type of property will you be applying for?

Section 8 (HUD) Housing

Section 8 is generally the name for HUD-subsidized housing programs. In Section 8, residents benefit from rents that allow them to usually pay 30% of their monthly adjusted income as rent, while HUD pays the difference between what a unit rents for on the open market (the contract rent) and what the resident can afford to pay (the tenant rent). These differences are paid to the landlord through a Housing Assistance Payment (HAP).

NOTE: I got this info from https://www.nchm.org/section-8-vs-section-42/ I’ll need SPM feedback on it’s relevance.

Low Income Housing Tax Credit

Section 42 is another name for the Low Income Housing Tax Credit program (LIHTC). LIHTC is a newer form of providing affordable housing and it is ultimately overseen by the IRS. Residents pay lower rents in LIHTC apartment communities because the developers of the communities received private investment dollars to acquire or construction the properties in exchange for federal tax credits. Beyond the federal credits, there is no direct subsidy involved.

NOTE: I got this info from https://www.nchm.org/section-8-vs-section-42/ I’ll need SPM feedback on it’s relevance.