The Section 8 Program
A Great Opportunity for Landlords
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· Competitive rents |
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· Collecting cash - not receivables |
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· "Continuous supply" of applicants |
These are a few of the many advantages landlords enjoy with St. Louis County's Section 8 program.
The Section 8 program was "invented" in 1974. Before Section 8 came along, housing programs subsidized physical structures -- a house, a garden apartment community, a high-rise building. But Section 8 changed all that.
Rather than have rental assistance tied to a particular building or address, it was vested in a family who could live almost anywhere. The landlord is free to lawfully screen Section 8 applicants on the same basis that other applicants are screened. If the landlord accepts the Section 8 client as a tenant, the rent meets program guidelines, and the unit passes inspection, rental assistance can begin. No long-term commitment on the part of tenant or landlord exists past the end of the lease.
Tenants are responsible for paying approximately 30% of their income for rent and utilities. The difference between what tenants are required to pay and the actual rent is paid monthly by the Section 8 program directly to landlords. It means that low- and moderate-income people can compete in the marketplace and rent standard, non-luxury housing. And it means that landlords can have a good expectation of payment even when renting to low- and moderate-income tenants.
The Housing Authority started its Section 8 program in 1975 and it's been going strong ever since. We've enjoyed 10% growth per year for 25+ years and are now assisting over 6,000 households. More than 1,600 landlords split $2,500,000 in Housing Assistance Payments checks from us each month. You could be one of them.
Please check out the rest of our web site and see if you think the Section 8 program is for you. We hope you decide to join us.
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(Hear our duck quack) |
Web site questions or comments: haslc@haslc.com