| Title |
Types and Operation Systems of Quasi-Public Rental Housing - Focused on a Comparative Analysis of the Cases in Korea, USA, and Japan - |
| DOI |
http://dx.doi.org/10.5659/JAIK_PD.2015.31.2.59 |
| Keywords |
Quasi-Public Rental Housing ; Affordable Housing ; LIHTC ; Superior Quality Rental Housing |
| Abstract |
The purpose of this study was to analyze the operation systems of quasi-public rental housing and similar types of affordable housing programs from foreign countries to explore its development strategy. The selected cases for the comparative analysis with quasi-public rental housing were 'low income housing tax credit(LIHTC)' program of USA and 'superior quality rental housing' managed by the registered corporation of Japan. These three privately supplied rental housing with restriction of rent are based on the supports of public financing and tax benefits in order to keep long-term affordable housing. In the foreign cases, the governments provide subsidies for development and rehabilitation of affordable housing project to improve the feasibility, while the tenants for the rental housing are restricted to low income households. The tenants may get the housing vouchers or benefits simultaneously from the government according to their households' income levels, which enhances their residential stabilization. Specialized housing management system and investment circulation structure are helpful to form the stable benefits from affordable housing business. The business model connected to the investment of private sector and rental housing management business is required for the safe landing and vitalization of quasi-public rental housing program. Standard for the rent and monitoring system are also vital to keep this housing program affordable. |