West Philadelphia Real Estate manages three types of properties, Market Rate Residential, Affordable Residential and Commercial. Below are some of the basic qualifications that must be met for each type of rental.
Market Rate Residential: Anyone can apply for this type of rental provided the property will not be used for any commercial use. Basic income qualifications would be that your gross monthly income is 3 times the amount of your rent.
Affordable Rental: West Philadelphia Real Estate manages many properties developed utilizing the Low Income Housing Tax Credit program. To qualify for one of these units you must first meet our basic income qualification of 3 times the amount of your rent, but you also have a household income below limits set by HUD (see below). Please note that households consisting solely of full time students are not eligible to to rent this type of property.
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So for example, a single person interested in renting one of our homes would have to have an income below $33,780 to be income eligible. A four person family unit would have to have a combined family income below $48,180 to be income eligible.
Please note: If you do not meet our income guidelines, but have a Section 8 voucher or other form of rental assistance, please let us know. As we will consider it when reviewing your application.
Commercial: These units can only be rented for a commercial use. However the following uses are prohibited: gambling or betting office; a massage parlor, video store or bookstore selling, renting or exhibiting primarily material of a pornographic or adult nature; an adult entertainment bar or club, or any other type of a bar, club, store that distributes alcohol; a firearms shooting range or any other use which creates or causes excessive noise; or a gas station.
If you have any questions or would like more information regarding the requirements to qualify for renting one of our homes, please call us at 215-222-8100 or email us at email@example.com