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Qualifications

Qualifications

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Banyan Street Manor is a HUD Multifamily section 8 and Tax Credit regulated property that are all subsidized apartments homes. Banyan Street Manor does maintain a waitlist that is currently 1-5+ years long. Every applicant is welcome to apply for the waitlist; please note that acceptance to the wait list does not mean that you have been approved for move in to the property. Banyan Street Manor requires a complete waitlist application as well as a full application completed when a household has come to the top of the waitlist and is being qualified for move in to the property.

If you would like to apply for the waitlist, there are several ways you may complete an application:

  • In person at the properties leasing office;
  • Or, you can call/email to request that we mail you a paper application to complete and return.

Banyan Street Manor’s waitlist is maintained in a date and time format as required by HUD, all households will be selected to screen for eligibility in application date and time order.

In order to provide affordable housing to our community, all residents must meet certain criteria. This means your income cannot exceed a maximum amount for your household size. Banyan Street Manor provides rent-restricted and subsidized housing for families whose income does not exceed the maximum allowable income for their household size. Banyan Street Manor participates in both the HUD Multifamily Section 8 and Low Income Housing Tax Credit programs, all households must be qualified for both programs in order to be approved for move in. Please note that this property maintains a wait list for all applicants wishing to reside here, a waitlist application is required prior to qualifying for the community.

The total annual income must be at or below the following HUD income limits below depending on number of occupants in the home *.

HUD 30% Income Limit

1

2

3

4

5

6

7

8

$26,450

$30,200

$34,000

$37,750

$40,800

$43,800

$46,850

$50,730

HUD 50% Income Limit

1

2

3

4

5

6

7

8

$44,100

$50,400

$56,700

$62,950

$68,000

$73,050

$78,100

$83,100

There are (3) parts of the application and qualification process which must be met prior to being approved for move-in, these are: (1) Waitlist application, (2) Screening application and (3) Income/asset verification for program eligibility. Each part of the application process is outlined below.

How to qualify to live here:

(1) Complete a waitlist application for the property. This application must be completed in whole.

(2) Screening process: The screening process includes a credit, criminal, and landlord reference check. Prior to submitting your screening application, please review our screening criteria and tenant selection plan. At the time of screening for a subsidized unit disclosure of social security numbers for the applicant and for all members of the applicant’s household, except those household members who do not contend eligible immigration status will be required.

(3) Income verification and eligibility: After each prospective household member has passed the Screening Process, all applicants will be required to complete the REA questionnaire and, accompanying eligibility forms. This process is completed to ensure that the total household income does not exceed the maximum allowable income for the household size. All household members must income qualify at time of move-in. Each household member must provide documentation establishing their eligibility including but not limited to, a government issued identification card, birth certificate for minors under the age of 18, student status, and income documents. Most households comprised of full time students will not qualify. Although some exceptions may apply. Every household is still welcome to complete an application, and ask about the student rule exceptions.

All sources and amounts of current, and anticipated annual income expected to be derived during the twelve months after move-in must be collected, verified, and reviewed by our compliance department. Our compliance department will review the household file to certify eligibility with the program. Our compliance department has a legal responsibility to ensure that all residents comply with the maximum allowable income limits at the time of move-in and are required to annually re-certify each household.

*Based on HUD requirements, at least 40% of new move in’s must be under the 30% income limit each year. The remainder of move in’s, may have income up to the 50% limit.

**Reflects Honolulu County area median income effective 05/01/2020.

***Posted tax credit and contract rents are subject to change at any time prior to a rental agreement being executed.

****Subsidized households rent amount is based on household income.

Please use this button to view and submit all Waitlist Documentation. All documentation is required to be completed unless otherwise stated in order to apply to our waitlist.