Renting condo

Discussion in 'Countable Income' started by Gina Williams, Mar 27, 2017.

  1. Gina Williams

    Gina Williams Newbie

    My mom is 86 and we moved her from her condo to ALF. Her payment is $4005 per month. Her income is just less than $2000 a month between SS and a small state pension. She had about $40,000 in cash only which is going fast. I have submitted all this information to the VA and they have received it but haven't gotten an approval yet. My brother is thinking about renting out her condo. How will that affect her eligibility?
     
  2. Kaylin

    Kaylin Hero Member Staff Member

    If your mother rents out her condo it will contribute to her total income. Which could make a difference in whether or not your mother qualifies for the A&A benefit and the amount. I hope that helps! Please come back if you have any more questions?
     
    Jandy likes this.
  3. Jandy

    Jandy Jr. Member

    Hi Gina,
    I would add this: if you all decide to go this route and rent out your mother's condo, I believe you need to file a Statement in Support of Claim (VA Form 21-4138) to update the VA on your mother's changed income.

    Good luck and keep us posted.
     
  4. Gina Williams

    Gina Williams Newbie

    If we do go that route I will let the VA know. I'm just trying to decide if it's worth the trouble. According to zillow.com, we could expect to get $1350 a month for rent. Her only other income is about $1800. Her ALF costs $4005 per month. Will the VA just make up the difference? If she doesn't rent, I'm assuming she would get the full amount available for a surviving spouse? Of course she has insurance expenses and the condo has a fee, plus a few other small bills which I included in her application. I realize you can't give me a definitive answer, just need to know if it would be worth the trouble of renting it out if it disqualifies her from the benefits and it's basically the same amount of income.
     

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