Section 8 of the Federal Government Housing Program pays a portion or all of the rent for homeless or low-income families renting homes. In the New York City area, for example, the Emergency Assistance Rehousing
Program (EARP) not only pays the Section 8 rent for home-less families, it also pays a one-time rent bonus to
the property owner (you) after the family moves in.
To make the program more attractive to building owners, the City has added Section 8 subsidies, permitting rent
payments up to the Fair Market Rates.
Since rents rarely decline, you can expect these subsidies to rise as time passes. Thus, you have a bright
future with such housing. Other features of Section 8 rent subsidies are:
* The rent subsidy does not include the gas and electric for the apartment. The tenant pays these charges.
* Your bonus is paid in a single payment once the tenant is approved and signs a
lease with you, the building owner.
* Many areas have waiting lists of Section 8 tenants. So you can rent your apartment as soon as it becomes
available.
* You choose the tenant from a pool of eligible homeless families approved for Section 8 vouchers.
Rental income from Section 8 can be most stable and steady rental income for long period of time.
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