Should I Rent My Home To Tenants
Through a Voucher Program?
Starting on October 1, 2020, the law in Maryland changed regarding housing choice vouchers. In the past, each Maryland county set its own rules about voucher applicants. The State law now determines how real estate agents, homeowners and landlords treat voucher applicants.
Most landlords can no longer refuse to advertise a home for rent to voucher applicants. There are several provisions in the law to deal with specific circumstances. The applicants must still meet the landlord’s credit requirements (if any), a criminal background check and rental history verification. They also must be able to show sufficient verifiable income, including their voucher.
We have had experience with several voucher program agencies. Those are the Section 8 Voucher program in Prince Georges County and Calvert County. We have also rented homes to applicants using the State of Maryland’s Department of Health and Mental Hygiene voucher program in Charles County. In each case, we receive the rent due to the landlords directly from the voucher program. There are also inspections required by the voucher program officials. Each County operates differently.
The main thing to remember about renting to a voucher applicant is that the voucher program determines the amount of the monthly rent. This seems to be based on their own formula. We believe that the formula takes into consideration several factors. They consider the comparable homes for rent in the area. Another factors is if utilities are included in the monthly rent. Finally, they consider the income of the applicant, if any. Obviously, if the landlord doesn’t want to accept the rent amount voucher program will pay, they are free to move on to another applicant.
Please be sure to review the other FAQs From Landlords if you are interested in buying a home. Also review the other FAQs from Property Management Clients to learn more about real estate investing.