FAQ
Answers to Frequently Asked Questions (FAQ).
Ferland Corporation is located in Pawtucket, Rhode Island at 558 Smithfield Avenue. Our hours of operation are Monday through Friday, 8:00am to 4:30pm.
No, Ferland Property Management, a division of Ferland Corporation, does not manage vacation properties.
Ferland Corporation does not charge a finder's fee. To apply for a Market Rent or Conventional housing unit, applicants can provide an official State criminal background check and/or credit report issued within ninety (90) days of the date of application. If the applicant does not provide an official State criminal background check and/or credit report issued within ninety (90) days of the date of application, then the applicant will pay the actual cost for the criminal background check and credit report processing fees. There is no application processing fee to apply for a Subsidized housing unit. Prior to move in at all properties, residents are required to pay the first month's rent and a security deposit.
What is "Market Rent or Conventional Housing"?
Market Rent or Conventional housing is a property in which the rents are determined based on the local rental market. Applicants must meet eligibility guidelines indicated in the property's Resident Selection Criteria Policy, which can be found in the Conventional Rental Application packet. Residents are responsible for the full rental payment each month.
Subsidized Housing is the common name for any property with a Section 8 or Section 202 contract with HUD. Residents pay 30% of their Adjusted Gross Income for rent and utilities, and HUD pays the remainder of the rent (or subsidy) directly to the landlord.
These properties have a Section 8 contract with HUD and are designated for applicants in which the head of household, co-head or spouse is an elderly person (age 62 or older) or is permanently disabled AND meets the HUD income eligibility guidelines. Properties that have adopted an "Elderly Preference" grants a preference on the waiting list when a unit becomes available to a household in which the head of household, co-head or spouse is at least sixty-two (62) years of age.
Some Section 8 contracts do not offer a preference for elderly or disabled applicants. These properties are commonly referred to as "Subsidized Housing for Families." Applicants for these properties must meet the HUD income eligibility guidelines.
Affordable Housing is a property that has mortgage restrictions that require the rents to be "Affordable." The Affordability guidelines vary depending upon the financing of the particular property. The rents are required to be determined in accordance with requirements of the mortgage agreement. Applicants must meet income eligibility guidelines and must pay the full rent each month.
