High Opportunity Neighborhood Partners has scrapped plans to buy 100 more homes and sold all 31 of its residential properties in the area.
That’s the policy HON capitalizes on. The company began buying homes in neighborhoods where mortgages could be covered by the rent from the now more-valuable vouchers. It purchased at least 30 homes in Bexar County’s jurisdiction and one in San Antonio’s housing authority jurisdiction over the past two years.
“We don’t really have the staff or resources to be able to [determine] rent reasonableness ahead of time until someone actually finds a unit that they’re interested in,” Hinojosa said. Bexar County has just over 2,000 vouchers it can award to low-income residents, while Opportunity Home has about 12,000 vouchers.
“I don’t know if they’re going to renew the lease or what’s going to happen,” Evon said. “I’m just sitting here waiting, giving them time and patience. Hopefully, they’ll do the right thing.”
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