More than 3,400 property owners in the District of Columbia are Housing Choice Voucher Program landlords. They work closely with the District of Columbia Housing Authority (DCHA) to develop and maintain a program that not only provides needed housing for thousands of families, but offers financial rewards for property owners, as well, including direct deposit and rents that are guaranteed. A Housing Providers Association helps shape policy that protects both landlords and tenants — and an agreement between the landlord, DCHA and the tenant clarifies everyone’s obligations. HCVP is an effective way to expand the number of safe, quality homes available to low- and moderate-income residents of the city, while stimulating community stability and economic growth.
Benefits for Landlords
As a HCVP landlord, you are the boss. You charge the same market rate for rent to an HCVP participant as you would any other tenant. And your rents are exempt from rent control. HUD has created a maximum ceiling rent that DCHA cannot exceed. This varies by sub-markets and is based on the number of bedrooms in the unit. DCHA encourages landlords to screen HCVP participants as they would any other renter.
You won’t have to deal with lots of paperwork. You sign your own lease with the tenant and a contract with HCVP. After the first year, the lease can be renewed on a month-to-month basis.
You will get timely rent payments by direct deposit. Even if your tenant has a financial setback, you will receive your rent. No matter what happens, DCHA will pick up the difference — or even pay the full rent amount.
You should never have high vacancy rates. There are many more city residents looking for affordable housing than housing available. You can select your own criteria for tenants, as long as these remain within fair housing guidelines. DCHA will provide the names and numbers of previous landlords of your prospective HCVP tenant.
Free annual inspections will help you keep your property in good condition, and catch problems before they become expensive repairs. Your property will be inspected initially to ensure it meets DCHA standards, and once every year after at no charge to you unless your unit fails two inspections, then it wil cost $75 to get another inspection. And because inspectors use the federal government’s list of possible property hazards, you will always know that your property meets HCVP standards and the Housing Quality Standards (HQS) set by the U.S. Department of Housing and Urban Development Housing (HUD). If your unit fails the inspection, you will have 30 days in which to make repairs. A unit must pass the re-inspection in order for DCHA to pay the monthly rent.
references:
reposted from http://dchousing.org
www.dclandlord.org
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