There are a number of landlord benefits to the Housing Choice Voucher Program in Atlanta. Many rental property owners don’t understand it, but we have worked with this program before, and we know how to keep your property protected when you rent it out to tenants who receive housing vouchers. Today we’re explaining the program, and telling you why it may make sense for your property.
What is the Housing Choice Voucher Program?
The program is like a re-branded Section 8 program. Its mission is to help people with lower incomes afford rental properties. Their voucher will pay a portion of their rent directly to you, the landlord. That’s a good thing for you, since it means you know that you’ll get the rent paid consistently every month. Those payments come directly from the Department of Community Affairs, so you don’t have to chase your tenants down for those subsidies.
Incentives to Maintain the Property
This rental assistance program is more landlord-friendly than it has been in the past. Previously, landlords were concerned about the potential for tenant damage. However, the current program incentivizes the tenants to maintain the property in good condition. If they don’t clean before they move out, or the property deteriorates during the course of their lease, they can lose their voucher.
Screening and Leasing is the Same
Your screening practices and the terms of your lease can be the same when you’re renting to tenants who participate in the Housing Choice Voucher program. You can still check to make sure there is no criminal history and you can talk to former landlords to find out how well they took care of properties in the past. Your lease will still be explicit about expectations and responsibilities.
With this assistance program, landlords have the opportunity to collect reliable rent and lease your property to tenants who are likely to stay for more than a year. The best way to successfully rent to tenants in this program is to work with the property management company that has experience with it. We understand
this program very well, and we stay up to date with the changes in rules and requirements. If you have any questions about the Housing Choice Voucher Program, please don’t hesitate to contact us at Bailey & Hunter in Atlanta, GA.