What is the Housing Choice Voucher Program?
The Housing Choice Voucher Program is a federally-funded initiative designed to assist eligible, low-income families and the elderly. The program authorizes the area Housing Authority to pay a portion of the tenant’s rent directly to a private landlord. The tenant pays 30% of their income toward rent and utilities, and the Housing Authority pays the remainder.
What is the Fair Market Rent?
The Fair Market Rent (FMR) is determined by what rents are charged generally in the area where the unit is located. It also includes an allowance for whatever utilities the tenant is responsible for. Any unit participating in the voucher program must be within FMR guidelines. HCP can help you determine if your rents are within this limit.
Can a landlord screen prospective tenants who receive a subsidy through the voucher program?
Of course! Owners don’t have to accept every applicant into their units. The landlord must not, however, discriminate on the basis of race, color, creed, sex, religion, national origin, handicap, age, or (in the city of Chicago) source of income.
How much security deposit can a landlord charge?
Landlords can charge whatever they normally charge any market-rate tenant.
Once a landlord agrees to lease to a voucher participant, what does he do next?
The tenant will present the Request for Inspection Form. The landlord must fill in all the information requested and return the form either to his/her prospective tenant (it is then the tenant’s responsibility to return this form to the Housing Authority) or the landlord may opt to mail the form directly.
How long does it take for an initial inspection to be conducted?
A housing inspector from the Housing Authority will contact the landlord to schedule an inspection, usually within a few days. It is recommended that both landlord and tenant be
present for the inspection and all utilities must be turned on. All units must comply with federal housing quality standards. HCP can discuss this inspection with you beforehand and answer any questions you may have.
When does the lease become effective and when can a tenant move in?
Generally, the day the unit is approved. The landlord and Housing Authority sign a Housing Assistance Payments Contract and the tenant moves in!
How long does it take to receive the first payment?
The first payment arrives approximately four to six weeks after move-in. The initial payment will be retroactive to the effective date of the contract. Payments thereafter are mailed in advance of the due date.
What are the landlord’s responsibilities?
It is the landlord’s responsibility to enforce the lease and provide needed repairs so that the unit meets housing quality standards and local codes at all times. Finally, landlords can sell their property during the lease period as long as the new owner signs the necessary documents.
CALL HCP TODAY!
to rent your home, apartment or condo
HCP is anxious to hear from you
312 386-1009 x227
Fax 312 386-1019
Rosetta Bowen Garner
Real Estate Specialist