What is Rental Assistance
Assisted/subsidized housing programs (also known as affordable or income restricted housing) provide affordable apartments and single family homes for families with low to moderate incomes that cannot afford the normal market rents in their area. Affordable housing receives some form of government or private funding to enable the monthly rent to be less than housing at market rates.
Generally there are two ways that housing can be subsidized:
Client-based subsidy, which is a program that provides a subsidy directly to the family, usually in the form of a rent voucher.
Project-based subsidy, which is a program that provides grants or low-interest loans to the developers of low-income apartments so they can lease their apartments at a lower cost to low-income families.
KMG is well versed in managing conventional housing as well as both client-based and project-based subsidized programs. We are experienced managers in a variety of income restricted programs for our Clients, such as the Low Income Housing Tax Credit (LIHTC) and other programs administered through the department of Housing and Urban Development (HUD); the Michigan State Housing Development Authority (MSHDA); and the Rural Development Agency (RD).