Being an HCV Landlord with South Metro Housing Options (SMHO) has many advantages. In addition to having SMHO as your housing partner, you have the added guarantee of being paid on-time every month while maintaining control over your home and policies. Let’s look closer at the benefits.

Guaranteed Monthly Income

Housing Choice Voucher (HCV) participants are responsible for paying you around 30% of their income every month with SMHO directly paying you the remaining amount. SMHO’s payment is guaranteed because of the HAP contract you sign when your tenant moves in. Because HCV participants are paying truly affordable rent they are more likely to have enough money to pay you every month in full, reducing worries about struggling to get paid.

Maintain Control Over Your Property

While there are a few additional steps to renting to a HCV participant, most of the process is the same as with any other tenant. All prospective HCV tenants will apply and be screened by you and must pass your screening criteria. You will still execute a formal lease between you and your tenant(s), which they are bound by during their tenancy. After the first year of tenancy, you can request a rental increase to keep up with changing market conditions through a rental increase request made at least 60 days before the end of the lease term.

Keep Tenants Longer

The housing market is tough, especially for low-income renters. When HCV participants find a home that fits their needs, has a Landlord that accepts HCVs, and is affordable to them they often stay for many years. The average length of time a HCV participant stays in one rental is 8.75 years (HUD). This allows Landlords to have reliable renters for multiple years, lessening the costs of making ready units once renters leave, lessening the costs of marketing vacancies, and ensuring you don’t miss rent while looking for a new tenant.

Do Good in our Community

We all know that the cost of housing in Arapahoe County and the Denver Metro Area has increased exponentially. Unfortunately, many households are struggling to afford these inflated prices, especially our seniors, previously homeless neighbors, and neighbors with disabilities. The HCV program is a way to relieve these households of their housing cost burden, giving them the financial space to afford health care, nutritious foods, and contribute to our local economy. You can be a part of helping these families find stability – all while still receiving full, on-time rental payments and quality, long-term tenants.

INTERESTED IN LEARNING MORE? Visit our HCV Landlord webpage at smho.co/hcv-landlords. You may also contact Annette directly at (303) 991-5607 or arodriguez@smho.co.