Rental Securtiy Administration
Posted in the San Francisco Forum
Since: Jan 11
#1 Sep 4, 2012
The Rental Security Administration would be similar to Social Security and paid for by landlord taxes. After 30 year of paying rent, the individual would qualify for a substantial portion of rent after 30 years and at 65, free rent, for life. Landlords make more on laundry quarters than many people make per year in retirement. While rent control helps some people in some communities, the RSA would be a safety net for those who have paid as much as $500,000 in rent in their lifetime and are living paycheck to paycheck, the average Social Security retirement being approximately $1000 per month. The retail rent in Redwood City is $1500 per month for a one bedroom. Housing subsidies help some people, however most landlords don't want to deal with HUD subsidies. This plan would allow people to stay in their rentals with a subsidy for all renters and the ability for seniors to retain their rental unit at retirement.
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