If you wish to rent to an HCV family, and enjoy a number of benefits including lower vacancy rates, tenant stability, free property inspections and eligibility for a reduction in property taxes you should inform CHA of the availability of your property. Ultimately, it is the HCV family’s decision whether or not to rent your property. Of course, as the landlord, you would screen the HCV family just as you would any other prospective tenant. The following steps summarize the process to become an HCV landlord:
- Attend Owner Briefing (Recommended) English
- Market your property once HCV participant is selected
- Complete and submit a Request for Tenancy Approval (RTA)
- Pass Housing Quality Standards (HQS) Inspection
- Complete suitability screening
- Execute lease and Housing Assistance Payment (HAP) contract
- Comply HUD and CHA’s rules and regulations (enforce lease)
Every Regional provides a resource center that includes a wide range of information, internet access, property listings. Each resource center is open Monday through Friday from 8:00 a.m. – 5:00 p.m. No appointment is necessary.
For more information see the Property Owner Guidebook.
Payment standards represent the maximum amount of subsidy that CHA can provide a family. CHA does not automatically approve this rent level for a given unit. CHA's monthly rent subsidy depends on a number of factors, including payment standards, the rents of other comparable unsubsidized rental units in the area, and the income of the family. Please see CHA's 2017 Payment Standards. As part of CHA's commitment to provide voucher holders access to more Chicago neighborhoods, CHA implemented an Exception Payment Standard policy.
Please see CHA's Rent Determination Process and procedures on approving rent increases.
Determining reasonable rent
When determining the rent offer made to an owner, HUD regulations require the amount is supported by the market. CHA establishes the rental value of the unit by examining comparable units in the area, ensuring the appropriate amount is provided to the property owner. Please see CHA's methodology in determining reasonable rent.
About the Tax Savings Program
Under state law, Illinois Property Owners who rent to Tenants in the HCV Program may receive property tax abatement (“tax savings”) in an amount up to 19% of a property’s Equalized Assessed Value (EAV). The actual amount will depend upon tax rates, the state equalizer, EAV and the number of qualified units rented to HCV Program Participants. For eligibility, please view the HCV Tax Savings Program Application and follow the instructions below:
- Complete the attached application (print or type) and mail the original, notarized, copy to: CHA Housing Choice Voucher Program, 60 E. Van Buren Street, 11th Floor, Chicago, IL. 60605-1207 before December 15, 2016. Faxed copies will not be accepted. Keep a copy of this application for your records.
Instructions to determine if your property is located in an eligible census tract:
- Go to the web address http://www.ffiec.gov/geocode/default.aspx
- Select the most current calendar year
- Enter the property address
- Select “Search”
- Select “Get Census Demographics”
- Review the “% Below Poverty Level” (must be less than 12%)
Common reasons for application denial:
- The application was submitted after December 15th.
- The property isn’t located in the city of Chicago.
- The property isn’t located in a census tract with a poverty level below 12%.
- The applicant didn’t notarize the application.
- The applicant didn’t mail the original application.
- The application is incomplete.