Plano Community Homes Blog

What income and assets information is required to calculate my rent for low-income subsidized housin

Over the years we have had many discussions with applicants regarding what an applicant must disclose about their income and assets to calculate rent payment. Typically all income and assets must be disclosed. There are very few and obvious exceptions such as Food Stamps and one time gifts such as a birthday gift of reasonable value. We realize that some situations can be complex such as overseas accounts and sponsor support to non-citizen.

Applicants and Residents are required to report all income from all sources and all assets, located in the U.S.A. or in another country, for PCHSP to determine eligibility and appropriate rent.

Failure to report any income or asset is FRAUD. It is the policy of PCHSP to report fraud to the appropriate agency within the U. S. Government.

Income and assets can include, but are not limited to:

  • Any sum of money, no matter how great or small, from employment

  • Social Security

  • Supplement Security Income

  • Disability compensation

  • Veterans Administration (V.A.) payments

  • Company or government pension (from any government)

  • Unemployment compensation

  • Income from rental property

  • Interest from dividends on

  • assets,

  • annuities,

  • mineral rights,

  • Regular monetary contributions from family or friends

  • Eligible Non-Citizen Sponsorship contributions

  • ANY other sources of income you have.

In the past we have had a problem with sponsorship of eligible non-citizen. In some cases the applicant initially lives with the sponsor. The sponsor is providing support through the household and record keeping is limited. When the applicant applies to Plano Community Homes the sponsor must provide information on the type of support they agreed upon through U.S. Immigration Enforcement (such as the Affidavit of Support under Section 213A under the Immigration and Nationality Act Department of Homeland Security/U.S. Citizenship and Immigration Services Sponsor’s Contract). If the sponsor does not provide support and the applicant receives benefits from any Federal, State, local agency or private agency, the agency may ask the sponsor to reimburse them for the amount of the benefit they provided.

If the sponsor declines to make a reimbursement the agency may sue for the amount of the benefit.

We also encounter some confusion about investment and assets outside the United States. There is no exception for investments and assets outside the United States. As with the other sources of income and assets, the applicant must report all investments and assets outside the United States. This includes:

  • Cash located in banks,

  • Security deposit boxes,

  • All Bank Accounts including, but not limited to, checking, savings, money markets, C.D.’s, IRA’s;

  • Stocks/Bonds

  • Pensions/Retirement Accounts

  • Real Estate

  • Land

  • Homes

#income #assets #subsidized #housing #fraud

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