8 Good Reasons To Consider Renting to A Section 8 Tenant
The Housing Choice Voucher Program -aka Section 8- provides rental assistance to individuals and families whose gross household income is at or below 50% of the median income of Westchester County based on their family size. Here I will list some of the pros of renting to a Section 8 Voucher holder.
Tenants are pre-screened. Before a voucher is issued, and annually thereafter, the Housing Authority conducts a limited criminal background check on all household members age 18 and over. Anybody applying for Section 8 housing must go through a mandatory criminal background check. This means that any felonies and misdemeanors from the past will be uncovered. However, the landlord should always do their own due diligence.
The Section 8 program pays market rents to landlords based on HUD guidelines. Units within the range of these rents should include heat and hot water.
The family’s total household income from all sources is verified at least annually to ensure that the tenant’s portion of the rent is between 30%-40% of their gross income, making their share of the rent affordable.
The portion of the rent that is paid by the PHA (Public Housing Agency) is done so by direct deposit no later than the 3rd business day of the month.
If the tenant’s income changes due to the loss of a job or other circumstances, the PHA reduces the tenant’s share and increases the housing assistance payment.
A Housing Quality Standards inspection is conducted once a year and helps to ensure that the apartment meets the minimum guidelines for health, safety, and security.
The PHA enforces the lease between the tenant and the landlord, intervening if either the tenant or the landlord is not in compliance with the lease terms. Serious and repeated violations of the lease are grounds for the tenant to be terminated from the program.
Landlords can notify the PHA of vacancies, allowing them to tap into a pool of pre-screened prospective tenants.