You enter into a Lease agreement with the Tenant. The Housing Authority will provide the Lease, which includes all regulations required by HUD. You sign a Contract with the Housing Authority assuring that a portion of your rent will be paid by the Authority. Your property must be inspected to see that it meets certain Housing Quality Standards (HQS), basically ensuring the housing is decent, safe and sanitary.
WHAT'S IN IT FOR THE OWNER?
A sizable portion of the rent is guaranteed by HUD and paid directly to you by the Housing Authority. The Tenant pays the balance to you. Fair Market Rents (FMR) are set and approved by the Department of Housing & Urban Development (HUD) and are adjusted annually. You have the option to select (and screen) any family certified by the Housing Authority as your Tenant. You may also post your vacancies at the Housing Authority and save on advertising costs. You deal directly with the Tenant.
Your rights are the same as they are in the private market. You select Tenants from the pool of eligible families maintained by the Housing Authority. You have the right to evict the Tenant in accordance with State law. You deal directly with the Tenant for any Tenant-caused damages.