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Rent Supplements

DESCRIPTION:

• Rent supplements are payments to owners of private housing on behalf of qualified low-income tenants.
• Rent supplements come in the form of vouchers that tenants can apply to rent at the property of their choosing.

FUNCTION:

• Rent supplements increase rental income on the property being financed.
• Rent supplements may increase demand for the units, resulting in lower vacancy rates and more stable rental income.

QUALIFICATION AND USE CRITERIA:

• Properties must meet space and bedroom configuration requirements.
• Tenant's income cannot exceed 50% of the median income for the area.
• Tenant's rent cannot exceed 30% of their income.

PROGRAM STRUCTURE:

• Qualified property owners or individuals are generally accepted on a first-come, first-served basis from a waiting list of approved applicants.
• Property owners often use rent supplements in conjunction with other enhancements.

DOWNLOADABLE DOCUMENTS (PDF):

• HUD Housing Choice Voucher Family Self-Sufficiency
• HD Housing Choice Voucher Programs

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