For those of you who are proud, new owners of rental properties, your now in a situation where your paying for multiple mortgages. You’ve got you primary residence mortgage(s), and now your rental mortgage(s). The sooner you can get your property ready to rent, the better off you’ll be financially. But even if you’re ready to be a landlord, you may not be getting the amount of response you thought you would from those advertisements in the local papers. What are you going to do? The clock is ticking and soon, the next mortgage payment will be due on your rental.

Enter the Federal Government.

There are numerous families in dire need of affordable housing in the United States, and our government recognizes this. The U.S. Department of Housing and Urban Development has created various housing vouchers that assist low-income families with the ability to afford safe, decent and sanitary housing in private-sector neighborhoods. Where does the government get these homes? From people like you!

It becomes a win-win situation for all when you realize the big picture: the government helps lower-income families, lower-income families get financial assistance to live in decent housing, landlords get paid. In a nutshell:

1. You provide your home as a rental unit in the housing program — adhering to the standards for sanitary, safe and decent housing.
2. A low-income family chooses to rent your home.
3. The family pays you a portion of the rent and the government pays the rest.

There’s no guarantee that you’ll get a tenant (after all, the families still get to pick and choose), but you will have greater exposure to more potential renters, and if your house is chosen, you’re almost guaranteed that you’ll get paid each month.

Your house must comply with living standards outlined in the voucher program: running water, heat, air conditioning, etc. More details and information about the various voucher programs can be found by clicking HERE.