3225 Holmes Kansas City, MO 64109

Property Features 2 Bedrooms 1 Baths 850 sqft

Currently being rented for $834

APPRAISED VALUE YOUR PURCHASE PRICE $57,000 $48,000

INVESTMENT STRATEGY: 25% Down Payment Loan Amount Closing Costs $12,000 $36,000 $3,400

Total Out of Pocket at Closing: $15,400

Mortgage payment (based on 7% interest): Taxes and Insurance: $293.51 $150 Monthly Costs: $456.51

Current Rental Agreement 8% Management fee Actual Rental Income $834 $67 $767

Monthly Cash Flow $377.49 ROI: 29.4%

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3812 Brooklyn Ave

Property Features

• 3 Bedrooms
• 2 Baths
• 1228 sqft

  Currently being rented for $625

APPRAISED VALUE	YOUR PURCHASE PRICE
$85,000	$55,000

INVESTMENT STRATEGY:

Total Out of Pocket at Closing: $14,400

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3337 Norton Ave

Property Features 2 Bedrooms 1 Baths 728 sqft Lot size 8712 sqft

Currently being rented for $540

APPRAISED VALUE YOUR PURCHASE PRICE $45,000 $40,000

INVESTMENT STRATEGY: 20% Down Payment Loan Amount Closing Costs $8,000 $32,000 $3,400

Total Out of Pocket at Closing: $11,400

Mortgage payment (based on 7% interest): Taxes and Insurance: $213 $100 Monthly Costs: $313

Current Rental Agreement 10% Management fee Actual Rental Income $540 $54 $486

Monthly Cash Flow $173 ROI: 18%

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346 & 348 N. Hardesty Ave

Property Features

• 4 Bedrooms
• 2 Baths
• 2578 sqft
• Lot size 4356 sqft

**Completely rehabbed with over $36,000 in improvements since September 2009.** Currently being rented for $975

APPRAISED VALUE	YOUR PURCHASE PRICE
$110,000	$90,000

INVESTMENT STRATEGY:

Total Out of Pocket at Closing: $21,400

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SECTION 8 PROGRAM OVERVIEW

Section 8 is a rental assistance program funded by the U.S. Department of Housing and Urban Development (HUD). It is designed to assist low-income families rent apartments, condominiums or homes in the private market.

The Housing Authority of Kansas City, Missouri (HAKC) issues a Housing Choice Voucher (HCV) to families that meet income guidelines established by HUD. Utilizing their HCV, the family pays approximately 30% to 40% of their income toward rent and utilities and HAKC pays the difference.

Rent is established based on rents paid for comparable unassisted units in the private market in the neighborhood where the unit is located. Rents may not exceed the Fair Market Rent (FMR) established by HUD.

Tenant screening and selection are up to the landlord. Landlords may use the same selection criteria they use to select market rate tenants.

Section 8 participants must comply with the terms of the lease, including prompt payment of rent and proper care of the unit.

Lease Terms: the landlord may choose not to renew the lease at the end of the initial one-year term or any term thereafter.

Section 8 Program Benefits to Landlords:

• Guaranteed monthly rent payments.
• Direct Deposit.
• Low vacancy rates.
• Good residents – it’s your choice.
• Annual inspections by HAKC at no cost to you to ensure maximum property upkeep.
• Charge a security deposit. (State allowed amount)
• Use of your own rental lease.
• Free weekly unit listings.
• Pre-criminal background checks on tenant referrals.
• Monthly “Owner News” newsletter.
• Access to a Landlord Advisory Council.
• Quarterly Landlord Meetings.

Owner Responsibilities:

The owner/landlord has the following major responsibilities:

1. Tenant selection and leasing

a. Screening the family’s background and/or suitability for tenancy.
b. Owners are permitted to screen based on a family’s tenancy history.
c. Owner may consider a family’s background regarding factors such as:

• Payment of rent and utility bills
• Caring for a unit/premises
• Respecting other’s rights for peaceful enjoyment of their housing
• Drug-related criminal activity or other criminal activity that is a threat to life, safety or property of others
• Compliance with other essential conditions of tenancy

2. Compliance with the Voucher Subsidy Contract and/or Housing Assistance Payments (HAP) Contract.

3. Normal landlord functions during the lease term (e.g., maintenance, rent collection, issuing of lease violations, and evictions).

4. Compliance with program lease.

5. Owner responsibilities are further defined in the HAP Contract or Subsidy Contract, the Lease, Federal Regulations and State and local City Law (Missouri Landlord/Tenant Law).

6. The owner must maintain the unit to Housing Quality Standards. If the owner fails to do so, the Housing Authority may terminate, suspend, or reduce housing assistance payments and terminate the HAP Contract.

7. The owner is not responsible for a breach of the Housing Quality Standards (HQS) for which the family is responsible.

8. The owner must adhere to provisions on modifications for reasonable accommodations to a dwelling unit occupied or to be occupied by a disabled person in accordance with the Americans with Disabilities Act of 1992.

Tenant Responsibilities:

1. Supply any information that the Housing Authority or HUD determines is necessary in the administration of the program, including submission of required evidence of citizenship or eligible immigration status (Information includes any requested certification, release, or other documentation).

2. Supply any information requested by the Housing Authority or HUD for use in a regularly scheduled re-examination or interim re-examination of family income and family composition in accordance with HUD requirements. Any information supplied by the family must be true and complete.

3. Disclose and verify social security numbers and sign and submit consent forms for obtaining information.

4. Allow the Housing Authority to inspect the unit at reasonable times and after reasonable notice.

5. Notify the Housing Authority and the owner before the family moves out of the unit or terminates the lease on notice to the owner.

6. Promptly give the Housing Authority a copy of any owner eviction notice.

7. Use the assisted unit for residence by the family. The unit must be the family’s only residence.

8. Promptly inform the Housing Authority of the birth, adoption, or court-awarded custody of a child.

9. Request Housing Authority approval to add any other family member as an occupant of the unit.

10. Promptly notify Housing Authority if any family member no longer resides in the unit.

11. After Housing Authority has given approval, you may have a foster child or live-in aide reside in the unit. The Housing Authority has the discretion to adopt reasonable policies concerning residence by a foster child or live-in aide and define when Housing Authority consent may be given or denied.

12. Members of the household may engage in legal profit-making activities in the unit with landlord’s consent, but only if such activities are incidental to primary use of the unit for residence by members of the family.

13. Supply any information or certification requested by the Housing Authority to verify that the family is living in the unit, or relating to family absence from the unit, including any Housing Authority-requested information or certification on the purposes of family absences. The family must cooperate with the Housing Authority for this purpose. The family must promptly notify the Housing Authority of any absence from the unit.

HAKC Responsibilities

1. Determine the amount of the Housing Assistance Payment (HAP) for a family.

2. Determine the maximum rent to the owner, and whether the rent is reasonable.

3. Make timely rent payments to an owner in accordance with the HAP contract.

4. Examine family income and size at admission and during the family’s participation in the program. The examination includes verification of income and other family information.

5. Establish and adjust Utility Allowance Payments (UAP).

6. Administer and enforce the HAP contract with an owner, including taking appropriate action, as determined by the Housing Authority, if the owner defaults (e.g., Housing Quality Standards (HQS) violation).

7. Determine whether to terminate assistance to a participant family for violation of family obligations.

8. Conduct informal reviews and hearings of certain Housing Authority decisions concerning applicants for participation in the program.

9. Provide sound financial management of the program, including engaging an independent public accountant to conduct audits.

10. Administer a Family Self-Sufficiency Program (FSS).

How Tenants are Qualified for Section 8

The HAKC accepts applications for Section 8 voucher assistance every Thursday between the hours of 8:30 a.m. and 11:30 a.m. at the Clymer Community Center, 1301 Vine, in Kansas City, Missouri. Family eligibility is based on income and family composition. Many times families look for a place to live before they have been approved by Section 8. If a landlord is approached by an applicant who has not yet applied for assistance through Section 8, please refer them to the Housing Authority, (816) 968-4100.

After application, families are placed on the Section 8 waiting list by the date and time of their application. As voucher assistance becomes available, families are selected in chronological order.

HAKC staff completes a thorough review of the applicant’s original application and:

1. Obtains a criminal background check for all members of the household eighteen (18) years and older,
2. Obtains current income information for all members of the household eighteen (18) years and older, and
3. Determines family composition.
4. Reviews the HAKC ‘Do Not Admit,’ ‘Trespassing’ and ‘Debt Lists.’

If the family is determined income- and family composition-eligible and passes the criminal background check, they are invited to participate in a two (2) hour Section 8 Program Briefing Session to receive their voucher. A family will not receive voucher assistance until they have participated in the Briefing Session.

Attention Apartment Owners, Managers and all Section 8 Residents:

Do you have a concern or general complaint that needs to be addressed? Would you like some assistance in helping you solve a problem or voicing a criticism regarding service in the Section 8 Department? Do you ever feel like no one is listening to you or you just can’t get the answer to your questions?

If your answer is yes to any or all of the above questions, the Housing Authority would encourage you contact our Ombudsman (complaint) Line at (816) 968-4160. The Housing Authority announces the re-establishment of this direct line for the purposes of ensuring that a direct response will be made to your call. This line will be monitored constantly and all calls will be logged and processed with the goal of producing an efficient and fair response. When calling the line, please be sure to leave your full name, phone number, and your concern / issue. Please remember, the Ombudsman Line has been established to address your concerns only and if you have specific questions regarding operational procedures or your wait list status, please call the HAKC’s main phone line at (816) 968-4100.

If you have trouble with the line or have further questions about this process please call the Ombudsman Line administrator, at (816) 968-4160, or e-mail at ombudsman@hakc.org.

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3622 Virginia Ave

Property Features

• 4 Bedrooms
• 2 Baths
• 1556 sqft
• 4356 Lot size

**Completely rehabbed with over $20,000 in improvements since July 2009.** Currently being rented to Section 8 tenant for $898

APPRAISED VALUE	YOUR PURCHASE PRICE
$80,000	$65,000

INVESTMENT STRATEGY:

Total Out of Pocket at Closing: $16,400

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