Alaska Housing Process

[admin]

Cody Kreitel

2 hrs

I have a vacant unit that I am trying to get rented by Sept 1st. A lot of prospective tenants are asking if we accept Alaska Housing. I have never been involved with Alaska Housing in the past. What are your experiences with AK Housing? Advantages, disadvantages, good experiences, bad experiences, etc.

Thanks!

[Kassandra RPM Alaska]

This is a great question. We have had this question a few times so we are attempting to get Alaska Housing to come speak at an event to help educate everyone.

The way it worked 5 to 10 years ago is different than it is today.  So many might have...."stories" that are probably no longer an issue. 

1 - Alaska Housing administers all the funds in the state and federal for housing. So a tenant might be in the program for a variety of reasons..ie disability, abuse, adoption, fostering, part of a church, and so many other reasons.  So understand it doesn't mean what it use to mean.

2- They do have a website where you can post your vacancy.  This is where they direct their client to view available already approved places.  Approved means you as a landlord is willing to accept AHFC as a form of rental income. It doesnt mwah the unit is approved just yet.

3 - There are a large portion of tenants that are one "plans" so they amount they get today might reduce over time so the tenant might age out of the Housing program and they need to work hard to get on their own feet.

4 - You still need to run a background check.  Them being in the system doesnt mean they are naturally approved for your rental.

5 -  Once they see the place, apply, and get accepted....ask for a deposit.  Some case workers reccomend tenants dont pay until they sign due to the fraud in this town on Craig's.  If that happens, call the case worker and explain you'll sign a holding fee with the tenant to help secure the unit and their funds.  We will post this form on the site soon.

6 - once approved and deposit paid.  Tenant will schedule a lease signing and inspection.  You'll arrive at the appointment at the rental.  When the inspection happens, 3 leases will be signed and the first 30 day rent will be paid. If they dont bring the money - dont sign.

7 -  DONE!

[Ben Persinger]

I've been open to accepting them but never had one make it through the application process. How have your experiences been as far as timelyness of rent and the like. 

[Kassandra RPM Alaska]

The best part about this is if an eviction starts to happen, the tenant tends to do a move with payment arrangement to avoid the eviction. An eviction makes them lose housing. If they move and keep paying, they keep housing. If they miss the payment plan, then you use collection and notify housing and they typically will pull their housing.  So as a result, very few go south and when they go south it isnt by to much.

[Ben Persinger]

Good to know @Kassandra. I will keep it as an option. 

[Dave]

If you want to do this you should get preapproved by ASHA first if you can

You can Lose a couple weeks rent waiting for the inspection procedures. If something is wrong you have to repair it and wait for another inspection.

[Realtor Matt Miller]

The worst part is dealing with AK housing at first.  Have to go through their process and have pass an inspection.  Hot water and heat have to function and be up to code (discharge pipe on hot water heater, fire break/barrier on utility room),   oven/stove works, and outlets are gfi where required.

 

I have a tenant whose rent is 1300 and AK housing pays 464 bucks a month into my account.  

 

Like Kassandra said,  run them just like any other prospect.