According to the Los Angeles County Development Authority (LACDA), LACDA helps over 23,000 low-income families within Los Angeles County, including Covina, CA, find and afford decent private rental housing. It does so through the Section 8 Housing Choice Voucher (HCV) Program.
As a Covina rental property owner, you should consider participating in the HCV Program, which offers attractive landlord benefits. Besides, by partnering with government housing assistance programs, you can give back to the community and extend help to those who need it.
Read on, as the PMI San Bernardino team will share insights into the HCV Program that you, as a landlord, should know.
How Section 8 Benefits Covina Landlords
According to the California Housing Partnership, as of 2023, 521,596 low-income renter households lived in Los Angeles County. The HCV Program aims to help these families by providing rental subsidies. Participating families pay only a portion of their income toward rent, and LACDA pays the rest directly to the landlord.
So, by offering your Covina rental properties to Section 8 tenants, you can:
- Expand your tenant pool
- Have LACDA's assurance that you'll receive your rental income on time
- Enjoy peace of mind with a stable, predictable income
Partnering with LACDA can also help you maintain property values. After all, LACDA will inspect your properties every other year. The goal is to ensure they're safe, sanitary, and decent.
Since you'll want to reap the benefits of this program (and continue doing so), you'll likely feel more motivated to conduct regular property maintenance. In doing so, you can uphold your rentals' worth.
How to Become a Section 8 Landlord in Covina
The first step is to ensure your property will pass LACDA's inspection. Think of it this way: If you don't want to live in a property because it's damp, moldy, drafty, or has poor indoor air quality, Section 8 tenants won't want to, either. Neither will it pass LACDA's inspection.
Once your property is up to code, advertise it to HCV Program participants. Contact the Los Angeles County Housing Resource Center at http://housing.lacounty.gov/ or (877) 428-8844 for advertising assistance.
When you start receiving applications, conduct comprehensive tenant screenings on each applicant. They'll help you gauge your potential tenants' viability and qualifications. You should also ensure their Housing Choice Voucher (form HUD-52646) is valid by checking its dates of issue and expiration.
Once you find your ideal tenants, coordinate with LACDA to complete the process and finalize things by signing the paperwork.
Ready to Become a Section 8 Landlord?
Becoming a Section 8 landlord can expand your tenant pool, give you predictable income, and let you help low-income families. So, why not consider participating in this program so you can start enjoying all these perks?
PMI San Bernardino can help lease your Covina properties to Section 8 tenants. With our full-service property management solutions, we'll handle marketing, tenant placement, rent collection, property upkeep, accounting, and more.
Rest assured, our team consists of highly experienced professionals. Our owner, Kevin Crawford, is a licensed broker and respected CAI, VRMA, and NARPM member. Our head property manager, John Santana, has been in the real estate industry since 2008.
Get to know us better and request your free property consultation!
