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Landlord Resources
From generous tax incentives, to reliable long-term tenants, there are a lot of great reasons to provide housing through the Housing Choice Voucher Program if your property is located in a Mobility Area. Click here to view a Map of Chicago Opportunity Areas.
What is the Housing Choice Voucher Program?
The U.S Department of Housing and Urban Development (HUD) provides rent subsidies to eligible low-income individuals and families in the form of Housing Choice Vouchers (HCVs). For half a century, the Housing Choice Voucher program has been a cornerstone of federal housing assistance, helping millions of low-income families, people with disabilities, and older adults access safe, decent, and affordable housing in the private market. Public Housing Authorities (PHAs) are responsible for determining applicant and tenant eligibility by pre-screening applicants on their income and credit histories.
Renting to Housing Choice Voucher Holders
Renters who utilize a Housing Choice Voucher (HCV) to pay for rent, should be treated equal to any other applicant. Refusing to accept housing vouchers to pay rent can constitute “source of income discrimination" which is illegal under the Illinois Human Rights Act. In addition, implementing policies or practices that disadvantage otherwise qualified voucher-holders, such as requiring additional references, imposing additional or unreasonable screening criteria, requiring a larger security deposit, or imposing other additional fees or penalties can also be considered discrimination.
Learn more about Source of Income Discrimination
How do Landlords Benefit from Participating?
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Assurance of prompt payment of rent subsidy each month
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Free advertising of unit vacancies and property inspections
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Protection from tenant financial hardships
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Decreased vacancy rates and reduced tenant turnover and related expenses
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Ready pool of pre-screened applicants
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Same protections as renting to market rate tenants
Additional Benefits:
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The Lump-Sum Payment Equal to One Month's Rent: When you rent to an HCV holder in an Opportunity Area, you receive an additional one-time incentive payment within 30 days of lease-up equal to one-month's rent. This payment is automatic. There are no limits with regard to how many units you can lease while receiving this benefit.
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Tax Savings Program: The Housing Opportunity Area Tax Abatement Program is an Illinois State property tax savings program for housing providers who rent to Housing Choice Voucher tenants in “opportunity” census tracts in the six-county Chicago region. The program is limited to areas with low poverty and access to jobs. The program is designed to reduce property taxes on qualified units, up to 19%. The actual amount will depend on the assessed value of the property and the local tax rate. Up to 20% of the units in the building may qualify if rented to HCV participants. For buildings under 10 units, the limit is 2 units.
Learn More About Providing Housing in Mobility Areas
If you have rental properties located in state-designated Mobility Areas, connect with us to find out how you can get started renting to our participants. HCP's Real Estate Specialist is available via phone at (312) 386-1009 ext. 202. or for one-on-one virtual meetings every first Friday of the month, from 11am to 12pm.
Use the form below to confirm your appointment!
What Our Partners Say About HCP
"The mobility office has been an invaluable partner to Atlas, helping us connect with families in search of their ideal home. Through their hands-on approach and dedicated support, we’ve been able to offer quality housing options that meet a variety of needs—including on-site laundry, parking, and more! We truly value the strong relationships we’ve built with the mobility office and the families they serve."
S. Segura
Atlas Asset Management Corp.
We have had the pleasure of working with the Mobility Team at HCP for many years. They go above and beyond to provide opportunities for families, and have provided many areas of support to our company. We value their competency, support, and caring mission, and strongly recommend that landlords take the opportunity to work with HCP and their clients.
R. Mecum