If you are looking to get your rental HUD-approved, you will want to go through the agency’s Section 8, or Housing Choice Vouchers, application. When HUD accepts your home into the application, you can sign a lease using a renter household receiving Section 8 assistance. Since the GoSection 8 website explains, this amounts to a lease guarantee from the national government; HUD pays Section 8 landlords the portion of lease, generally, that exceeds 30 percent of a Section 8 family’s income.
Contact your regional public housing agency (PHA), commonly called”the housing authority.” Search HUD’s website to locate the PHA that insures your area.
Inform the housing authority that you want to rent your home via the Section 8 application. While your PHA can supply you with guidance regarding the procedure, itgenerally will not reevaluate your unit until after you discover a Section 8 tenant that you would like to sign an agreement with.
List your rental property as you would any other. Notice in your advertising that you take Section 8 tenants. It makes sense to contact your PHA early in the procedure, as it may be able to help you market your unit. Organize your vacancy at the GoSection 8 website, too.
Display interested tenants. You don’t have to provide special treatment receiving Section 8 assistance.
Forge a verbal agreement with a Part 8 renter you hope to rent your property to. Speak to your PHA and, being the GoSection 8 website advises, ask for a”Request for Tenancy Approval form.” Fill out this form.
Prepare to get a HUD inspection. For the PHA to take your own unit as a Section 8 lease, it must meet HUD’s quality standards. Since the GoSection 8 website notes, this includes a kitchen sink, a bath sink and a bath tub or shower with hot and cold running water and satisfactory systems for disposing of waste. In general, HUD’s standards strive to make Section 8 units sanitary and safe.
Sign a lease with your Part 8 renter upon reaching approval. You will need to have your property re-inspected by your PHA on an annual basis if you want to maintain it as a Section 8 lease.