Section 8
The Section 8 Housing Choice Voucher Program is the largest source of rental assistance in the United States, which offers its participants a subsidy of about 80% (in average) of the rental fee. The program, which is federally funded and run by the Department of Housing and Urban Development (HUD) and over 2,100 state and local public housing agencies (PHAs), provides support to over 5 million people throughout the country. Its goal, as defined by the Housing and Community Development Act of 1974, is to assist individuals and families earning low wages in finding "decent housing and a suitable living environment" in privately owned housing.
GNR has long identified the great potential in this program for investors and made it one of its leading lines of investment. It initially focused on the Philadelphia market due to its low housing prices, positive migration rates and the high number of participants (over 17,000) in the Section 8 program. Its remarkable success in Philadelphia led the company to expand its investment to the Baltimore area, where it identified similar conditions: low housing prices, higher rental fees, positive migration rates and about 17,000 families supported by the Section 8 program.
Today GNR is the Largest Section 8 Landlord in Philadelphia.
Benefits from our activity in the Section 8 market
A solid, stable market
The Section 8 market proved itself to be stable and resilient throughout the global crises of the past decade, as government support is guaranteed under federal law
Guaranteed Rent
The government subsidizes about 80%
(in average) of the rental fee and also provides a safety net to participants in the case of a loss of income, increasing the subsidy to an average of 85% of the rent.
Well-Maintained Housing
The Housing Authority conducts biannual inspections, which ensure that properties are properly maintained and meet the highest standards.
Low Vacancy Rates
The government subsidizes about 80%
(in average) of the rental fee and also provides a safety net to participants in the case of a loss of income, increasing the subsidy to an average of 85% of the rent.
Good Renters
The Housing authority conducts extensive background checks (including criminal history screening) on Section 8 applicants and participants. Landlords can establish their own criteria and are not obliged to rent their property to those they consider ineligible. Furthermore, tenants who do not meet their obligations to the landlord risk losing their Section 8 vouchers.
Due to the shortage of Section 8 housing, the rent fees paid by the government through this program are about 15% higher than the average rent in this market. GNR is currently the largest Section 8 landlord in the Philadelphia area.
Higher rental fees
Timely payment
Section 8 property owners receive
their rental payments on time (at a 98% rate), on the first day of every month,
via direct deposit. During the COVID-19 pandemic, the government provided tenants with additional assistance to guarantee timely payment.
Long-term stability
The initial contract term is 2 years, with the option to renew as long as the tenant’s voucher is still valid. Upon termination of each two-year term, the lease automatically renews unless the tenant specifies otherwise
GNR tenants stay an average of
six years in the property.
Section 8
The Section 8 Housing Choice Voucher Program is the largest source of rental assistance in the United States, which offers its participants a subsidy of about 80% (in average) of the rental fee. The program, which is federally funded and run by the Department of Housing and Urban Development (HUD) and over 2,100 state and local public housing agencies (PHAs), provides support to over 5 million people throughout the country. Its goal, as defined by the Housing and Community Development Act of 1974, is to assist individuals and families earning low wages in finding "decent housing and a suitable living environment" in privately owned housing.
GNR has long identified the great potential in this program for investors and made it one of its leading lines of investment. It initially focused on the Philadelphia market due to its low housing prices, positive migration rates and the high number of participants (over 17,000) in the Section 8 program. Its remarkable success in Philadelphia led the company to expand its investment to the Baltimore area, where it identified similar conditions: low housing prices, higher rental fees, positive migration rates and about 16,000 families supported by the Section 8 program.
Today GNR is the Largest Section 8 Landlord in Philadelphia
Benefits from our activity in the Section 8 market
Guaranteed Rent
The government subsidizes about 80%
(in average) of the rental fee and also provides a safety net to participants in the case of a loss of income, increasing the subsidy to an average of 85% of the rent.
A solid, stable market
The Section 8 market proved itself to be stable and resilient throughout the global crises of the past decade, as government support is guaranteed under federal law
Low Vacancy Rates
The government subsidizes about 80%
(in average) of the rental fee and also provides a safety net to participants in the case of a loss of income, increasing the subsidy to an average of 85% of the rent.
Well-Maintained Housing
The Housing Authority conducts biannual inspections, which ensure that properties are properly maintained and meet the highest standards.
Good Renters
The Housing authority conducts extensive background checks (including criminal history screening) on Section 8 applicants and participants. Landlords can establish their own criteria and are not obliged to rent their property to those they consider ineligible. Furthermore, tenants who do not meet their obligations to the landlord risk losing their Section 8 vouchers.
Due to the shortage of Section 8 housing, the rent fees paid by the government through this program are about 15% higher than the average rent in this market. GNR is currently the largest Section 8 landlord in the Philadelphia area.
Higher rental fees
Long-term stability
The initial contract term is 2 years, with the option to renew as long as the tenant’s voucher is still valid. Upon termination of each two-year term, the lease automatically renews unless the tenant specifies otherwise
GNR tenants stay an average of
six years in the property.
Timely payment
Section 8 property owners receive
their rental payments on time (at a 98% rate), on the first day of every month,
via direct deposit. During the COVID-19 pandemic, the government provided tenants with additional assistance to guarantee timely payment.
Section 8
The Section 8 Housing Choice Voucher Program is the largest source of rental assistance in the United States, which offers its participants a subsidy of about 80% (in average) of the rental fee.
The program, which is federally funded and run by the Department of Housing and Urban Development (HUD) and over 2,100 state and local public housing agencies (PHAs), provides support to over 5 million people throughout the country.
Its goal, as defined by the Housing and Community Development Act of 1974, is to assist individuals and families earning low wages in finding "decent housing and a suitable living environment" in privately owned housing.
GNR has long identified the great potential in this program for investors and made it one of its leading lines of investment.
It initially focused on the Philadelphia market due to its low housing prices, positive migration rates and the high number of participants (over 17,000) in the Section 8 program.
Its remarkable success in Philadelphia led the company to expand its investment to the Baltimore area, where it identified similar conditions: low housing prices, higher rental fees, positive migration rates and about 16,000 families supported by the Section 8 program.
Today GNR is the Largest Section 8 Landlord in Philadelphia.
Benefits from our activity in the Section 8 market
A solid, stable market
The Section 8 market proved itself to be stable and resilient throughout the global crises of the past decade, as government support is guaranteed under federal law
Well-Maintained Housing
The Housing Authority conducts biannual inspections, which ensure that properties are properly maintained and meet the highest standards.
Good Renters
The Housing authority conducts extensive background checks (including criminal history screening) on Section 8 applicants and participants. Landlords can establish their own criteria and are not obliged to rent their property to those they consider ineligible. Furthermore, tenants who do not meet their obligations to the landlord risk losing their Section 8 vouchers.
Timely payment
Section 8 property owners receive
their rental payments on time (at a 98% rate), on the first day of every month,
via direct deposit. During the COVID-19 pandemic, the government provided tenants with additional assistance to guarantee timely payment.
Guaranteed Rent
The government subsidizes about 80%
(in average) of the rental fee and also provides a safety net to participants in the case of a loss of income, increasing the subsidy to an average of 85% of the rent.
Low Vacancy Rates
The government subsidizes about 80%
(in average) of the rental fee and also provides a safety net to participants in the case of a loss of income, increasing the subsidy to an average of 85% of the rent.
Due to the shortage of Section 8 housing, the rent fees paid by the government through this program are about 15% higher than the average rent in this market. GNR is currently the largest Section 8 landlord in the Philadelphia area.
Higher rental fees
Long-term stability
The initial contract term is 2 years, with the option to renew as long as the tenant’s voucher is still valid. Upon termination of each two-year term, the lease automatically renews unless the tenant specifies otherwise
GNR tenants stay an average of
six years in the property.