Starting July 1,plans to give as much as $500 to property owners for each new lease they sign with a tenant who has a voucher. That’s on top of the guaranteed rent they would receive from the agency, which uses federal funds to cover much of the rent for such tenants, who pay about 30 percent of their income toward the monthly payment.
The U.S. Department of Housing and Urban Development calculates a fair market rent annually for vouchers in metropolitan areas, and that rent varies based on ZIP code and unit size. Housing authorities then figure out the maximum that they will pay for a voucher. Some landlords don’t understand how vouchers work, don’t want to deal with the bureaucracy of a government program or have negative perceptions of residents with vouchers. They worry their property value will go down or they’ll see an increase in crime, Rodriguez said.
The agency determines an applicant’s eligibility and gives them a voucher, which allows them to search for a unit in the private market. Opportunity Home must approve the rent for a unit and it must pass an inspection. The landlord must sign a contract with the agency along with a lease with the tenant.