What Is Section 8 Tenant

Section 8 of the housing act of 1937 often called section 8 as repeatedly amended authorizes the payment of rental housing assistance to private landlords on behalf of low income households in the united states.

What is section 8 tenant. Fort lauderdale florida housing authority director william h. The tenant pays 3 of monthly income for rent and the pha pay0s the landlord the remainder up. Tenant based section 8.

If you re an investor in real estate especially in a large metro area you might have considered opening your rentals to section 8 tenants. Richard smith initially developed 11 financing in the early 1970s to accommodate a local savings and loan interested in assisting with urban renewal projects mr. View all glossary definitions.

Tenants apply for the program and if they meet certain requirements they are granted a housing voucher from the government. In 2018 upwards of 5 million people across the country lived in a. Lindsey upon the advice of housing authority attorney j.

This voucher allows the tenant to look for housing within a certain price range. The section 8 program is one of the largest and oldest government programs aimed at helping people find affordable housing the 8 refers to section 8 of the housing act of 1937. Hud funded rental assistance for low income households administered by a public housing authority pha which also offers a portability feature.

The section 8 housing choice voucher program is a form of government rent assistance. The section 8 housing choice voucher hcv program allows households to rent from private landlords.