If you’re a Yonkers landlord looking for good tenants, guaranteed income and a way to keep your occupancy rates up, look no further than the Yonkers Landlord Housing Choice Voucher program (Section 8).
The Yonkers Landlord Housing Choice Voucher program, also known as the Section 8 program, is the federal government’s major program for assisting very low-income families, the elderly, and the disabled to afford decent, safe, and sanitary housing in the private market. Eligibility for this program is based on a family’s gross annual income and family size.
Here’s how the program works for landlords:
- If you rent to tenants who qualify for Section 8, the federal government (Department of Housing and Urban Development) through the Municipal Housing Authority for the City of Yonkers, will guarantee a portion of the tenants’ rent every month (based on income) which will be sent directly to you. Generally, families will pay no more than 30% of their adjusted gross income toward their rent share.
- Section 8 can help to fill vacant units in your buildings by referring tenants as they enroll.