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Government Housing Scheme. Now, I just want to touch on this very lightly. The US has
an extraordinary government housing scheme. They call it the Section 8 Housing Scheme.
It operates across the US and effectively what it is about is subsidizing home rents
for people who are and for whatever reason unable to make levels of rent for the city
they live in, or they’ve recently lost their home and so forth, it’s a very strong housing
scheme. It’s recently been revamped as a result of all the chaos over the last 2 or
3 years and the effective bankruptcy has meant that a lot of people have had to move back
into homes in the same neighborhoods that they once lived and have their rents paid
either a small percentage wise or fully by the government. Now the effect on us as investors
is that if you’re buying in a particular city where the rental scheme works very well
then it’s absolutely fantastic because what it means effectively is you’re increasingly
the poll of people to whom you can invest. You’re able to either rent it in the open
market or you’re able to rent it to the Section 8 tenant, so if you think about it
that way, a Section 8 tenant, it might sound bad cause it’s like a government subsidy,
but the government will pay you guaranteed month after month. So, you don’t have any
hassle associates when dealing with individuals. Now, for me this is a primary factor in assessing
risks as well, if the city has got a really well run Section 8 Housing Scheme, then for
me the risk goes down. �