No, Minimum Rents Do Not “Encourage Financial Responsibility”
by Gideon Anders
March 13, 2014
President Obama’s 2015 Budget seeks to impose a $50 per month minimum rent on tenants living in USDA Rural Development (RD) financed Section 515 Rural Rental Housing and Section 514 and 516 Farm Labor Housing.
This will only impact extremely low-income households with adjusted annual incomes of less than $2,000. These are the absolute poorest households residing in RD housing. They typically do not have a regular source of income. RD indicates this requirement will affect about 42,000, or 10 percent, of the households living in RD rental housing…