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Steps to Becoming a Landlord Find a Tenant. List your property free of charge on gosection8.com. ... Approve the Tenant. ... Agree to Enter Lease. ... Affordability. ... Determining Rent Amount. ... Unit Inspection. ... Sign the Housing Assistance Payment Contract (HAP) ... Lease requirements under the HCV Program.
Generally, Section 8 vouchers pay for approximately 70% of the tenant's rent and utilities. These costs are tied directly to the landlord's bank account. The tenant then covers the remaining 30% of expenses using their own income.
How to Become a Section 8 Landlord Advertise your property. ... Screen & select a tenant. ... Set up an OHA inspection. ... Prepare for the inspection. ... Attend the inspection. ... Execute an OHA Housing Assistance Payment (HAP) contract. ... Maintain Landlord/Tenant Relationship.
In Chicago, it's not necessary to officially register as a Section 8 landlord, but doing so can help you find tenants more quickly. To register, you'll need to contact the public housing agency that oversees the area your property is in.
How the Program Works Apply and interview. Attend a voucher briefing. Select a unit, submit a Request for Tenancy Approval. Await inspection results. Await rent determination. Sign the lease. Move in, pay rent and utilities. Comply with HUD and CHA's rules and regulations.