There are many benefits to Landlords who choose to participate in the Section 8 Housing Choice Voucher Program including:
- You have a much greater assurance of a stable stream of rental income. Risk of nonpayment of rent is reduced because if your tenant experiences a sudden financial hardship the subsidy payment increases to offset loss of income.
- Timely Housing Assistance Payments. Funds are electronically deposited in your bank account the first business day of each month.
- Tenants’ incentive to take good care of the property. A Program participant may be terminated from the Section 8 Program for violating the terms of the Landlord’s Lease.
- MHA is required to perform criminal history and sex offender searches on all applicants 18 years of age or older. If requested, landlords are given the names and address of the unit previously occupied by prospective tenant which helps in the screening and selection process.
- Free initial and annual property inspections under HUD’s HQS Inspection Standard help landlords identify areas requiring repair and maintaining the overall quality of the unit and neighborhood housing stock.
- Assurance of receiving a Fair Market Rent for the rental unit.
In addition to the benefits above Landlords also have Responsibilities including:
- Compliance with all of the Owner’s obligations under the Housing Assistance Payments (HAP) contract and dwelling lease.
- Performing all management and rental functions for the assisted unit, including selecting a Voucher-Holder to lease the unit, and deciding if the family is suitable for tenancy of the unit
- Maintaining the unit in accordance with the Housing Quality Standards (HQS), including performance of ordinary and extraordinary maintenance
- Complying with Equal Opportunity requirements
- Preparing and furnishing to the MHA information required under the HAP contract
- Collecting the security deposit, tenant rent, and any charges for unit damage by the family.
- Enforcing tenant obligations under the dwelling Lease.
- Paying for utilities and services that are not the responsibility of the family as specified in the lease
- Allow reasonable modifications to a dwelling unit occupied or to be occupied by a disabled person.
- Complying with the Violence Against Women Act (VAWA) when screening prospective Section 8 HCVP tenants or terminating the tenancy of an Section 8 HCVP family.