Section 8 Update, More on Squatters, Tenant Screening

Southern Nevada Regional Housing Authority…..

generously presented at the 2017 Property Management Symposium in late July.  Here is some useful info….

Occupancy Standards:

1-2 person, 1 BR voucher
3-4, 2 BR voucher
5-6, 3 BR voucher

In other words, 2 people per BR.  This is the exact occupancy standard I maintain.

Payment Standards Effective 3/1/2017 (maximum)

0/BR $675
1/BR $843
2/BR $1,038
3/BR $1,530
4/BR $1,816

Please note that all voucher holders must be employed. A percentage of their income is part of the rent payment algorithm.

Of all the data, I found this to be the most interesting: There are 11,000 voucher holders in Clark County.  There is one (1) fraud investigator.  Oh my….

Notaries to Stop Squatters

AB 161 was signed into law requiring owner-managed property leases to be notarized.  Permitted property managers are exempt from this law.  A squatter can no longer create a lease and pass it off as valid to law enforcement.  Effective 10/2017

Tenant Screening

The name FICO comes from the company’s original name, the Fair Isaac Co. It was often shortened to FICO and finally became the company’s official name several years ago.  I will not consider an applicant with a FICO score <625.