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The amount of the section 8 voucher may be more or less than the amount the landlord could receive for the rental on the open market.
What does section 8 housing mean. The section 8 housing choice voucher hcv program is the most well known and sought after housing program in america. Learn six risks that a landlord may face when dealing with the section 8 program. 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.
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. Section 8 is the familiar name given to a program launched by the federal government to give rental assistance to the disabled elderly and low income families. Section 8 housing refers to a federal program in the united states which provides subsidized housing to families and individuals whose income is less than 50 of the area s median income.
It s technically the housing choice voucher program provided for by an amendment to section 8 of the united states housing act of 1937. Section 8 will determine how much they will pay for each voucher based on a number of factors. There are different procedures and requirements a landlord must follow when renting to a section 8 tenant than when renting to a tenant who does not receive this housing choice voucher.
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. Department of housing and urban development. There are more than 2 400 public housing agencies phas or commonly referred to as housing authorities that manage the section 8 hcv program for a specific jurisdiction such as a city county or region of multiple areas.
Section 8 is a common name for the housing choice voucher program funded by the u s. Housing act of 1937 that implemented this program originally. The section 8 housing choice voucher program is a form of government rent assistance.
Lindsey upon the advice of housing authority attorney j. Section 8 refers to the part of the u s. In 2018 upwards of 5 million people across the country lived in a household that used a voucher to help pay.
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