Sometimes serendipity strikes. Hub Edge Realty was able to rent a unit at 65 Hollis Street, Weymouth today on behalf of a new landlord today. We had an unusual opportunity to rent the property to a homeless veteran down on his luck. And we got him in right before Christmas! The new tenant, I just spoke with him, is ecstatic.
This was not an easy rental process. The process included the U.S. Department of Housing and Urban Development-VA Supportive Housing (HUD-VASH) Program and the Boston Housing Authority (BHA). The people working at HUD-VASH in Brockton and Jamaica Plain were wonderful and made the process easier. The people working at the BHA, including the inspector, did a great job too!
The property itself lended itself to be almost a perfect property for Section 8 tenants because the property, even though it has two units, currently only has one heating system and currently lacks a public electric meter. As part of the lease, the landlord has agreed to pay for the tenant’s electric and oil usage, but the Section 8 program allows a utility allowance for landlords who agree to pay for their tenants’ utilities.
Here are some questions prospective landlords should ask when buying rental properties…
- Does the property has a separate heating unit for each rental unit?
- Does the property has a public electric meter?
- Does the property have water submeters?
Here is some advice for prospective landlords interested in buying rental properties…
- Work with a real estate agent who has experience in helping people buy and sell multi-family properties.
- Be open to advice from said real estate agents.
- Do what this landlord did if you find yourself in a similar situation.
Quite honestly, this landlord didn’t have to take any of my advice, but he trusted my experience. We won’t know if this tenant will turn out to be a good tenant or a bad tenant but there’s a good chance he’ll be great because we’ve both met the tenant and gotten to know him a bit. I’m a veteran and I’m so happy to have been able to help another veteran down on his luck. It’s a great Christmas gift for him and the new landlord. I’m so happy to have been able to facilitate the match so it’s a great Christmas present for me too!
Volunteers of America Massachusetts and Father Bill’s & MainSpring combined to help the new tenant with his security deposit through their Supportive Services for Veterans Families (SSVF) program. Hub Edge Realty, as a veteran owned business, has donated $100 to Father Bill’s & MainSpring today in appreciation of its efforts. You can donate to either Volunteer of America Massachusetts or Father Bill’s & MainSpring too!