SEB Housing

  Minimum Income (and Assets) Per the Leasing Office’s policy that is also in place for market-rate apartments, the rent to income ratio required to lease a unit is 40% (i.e. applicant’s monthly income must be approximately 2.5 times the monthly rent). Applicants may make less than the minimum incomes shown below if they have sufficient savings from which they can draw down otherwise, applicants will not be found to be eligible for a lease if they make less than the incomes shown below. Applicants who have receive a housing subsidy (like Section 8) are not subject to the minimum income requirements but, like all other applicants, will also have to pass reviews on credit scores, tenant history, and criminal background checks in accordance with DHCD’s requirements regarding same. Please see “Leasing Office Review” in the step-by-step process for more details. Again, these minimum incomes are not required by the affordable housing program, they are just estimations of minimum incomes requ

Affordable Housing Lotteries This is a very brief overview of a generic affordable housing lottery process as the lottery process changes per property, town, and program (BPDA, 40B, etc.), Please note that a more detailed step-by-step of this timeline is found in the info packet for each property, so please be sure to cross-reference those with any questions you might have. Housing Lottery Overview (Pre-Lottery, Lottery, Post-Lottery) Pre-Lottery Step 1: A new development is permitted/approved in an agreement between a City/Town and a developer with oversight provided by a Program Administrator (like DHCD or MassHousing or MHP). The Executive Team of SEB Housing (Brian & Dave and Co) works with the developer (our client) to ensure that all the various conditions of the affordable housing program are incorporated into the marketing and Lottery Materials that they draft for City/Town and Program Administrator approval). The Lottery Materials will include the Marketing Plan,

SEB Housing provides Affordable Rental Housing services in MA. We encourage  you to reach out to many rental assistance groups to see if you qualify but funds are quickly exhausted. SEB Housing also helps developers and management teams ensure that they stay compliant with constantly changing affordable housing programs and requirements.SEB Housing also can be retained to make sure that properties are annually maximizing their affordable rents as median incomes, interest rates, tax rates and/or utility allowance schedules frequently change which impact affordable sales prices and/or rents.For more details on any and all of the programs, please contact us at 617-782-2300.