There are many misconceptions surrounding the Section 8 housing program, a federal housing assistance program that subsidizes part of a resident’s rent payment. Landlords shy away from the program because they think it attracts lower quality renters, involves too much government regulation or requires extra work. However, there are also plenty of landlords who go through the paperwork to qualify their property for Section 8 because reliable monthly payments, a wide pool of potential residents and stable, long-term renters make the process worth it.
If you’re thinking about joining the Section 8 housing program, here are the steps to get started.
Fill out an application
To begin the Section 8 landlord qualification process, download and fill out the forms for Section 8 Landlord Application (also called the Housing Choice Voucher Program) on the HUD website. To apply, you’ll need to provide personal information and disclose the asking rent of your property to ensure you’re charging market-rate rents.Complete a property inspection
Once the application is approved, the housing authority will set up an inspection to visit your property and make sure it meets building and safety codes. Inspectors will check for things like working plumbing, sound structure, and locks on each window and door. Some will also look at the heating or cooling system. Requirements vary depending on your area, so inquire with your local housing authority prior to the inspection to make sure your property meets local codes.Begin accepting vouchers
After you’ve passed the inspection, you’ll receive a Housing Assistance Payments Contract, which contains a lease agreement to be included in the leasing documents for your new resident. Qualifying your property for Section 8 doesn’t mean you’re limited to renting to voucher holders, but it does open you up to a bigger pool of potential residents to fill your units.Once you have a lease agreement prepared and a screening process in place to find a great renter, you’re ready to begin accepting Section 8 residents.
Have questions? Learn more about Section 8 rules, regulations and forms for landlords.
courtesy of:
REALTOR (R)
Coldwell Banker Residential Brokerage
nakia.evans@CBmove.com
Cell: 443.864.1358
Timonium, MD 21093
Office 410-252-2111
www.CBmove.com/Nakia.Evans
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