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Welcome to the division of tenant resources owner services unit at the New York City Department of Housing preservation and development we assist owners that are participating in HPD administered rental subsidy programs including the Housing Choice Voucher program commonly known as section 8 HPD's mission is to provide affordable housing to New Yorkers at all income levels and one way that we are able to assist low-income New Yorkers is with subsidies subsidy programs only work well when they work for the owners that participate which is why we want to help your business thrive and get your tenants please stop let's go over some basics about the program structure benefits and requirements, and then I'll guide you through the paperwork to lease up a section 8 tenant and receive rental subsidy payments this video is intended to be helpful and informative it is not intended as legal advice or a complete explanation of the sectioning program section 8 is a rental subsidy program that is funded by the US Department of Housing and Urban Development HUD and administered locally by housing agencies in New York City there are three distinct section 8 programs administered by the New York City Housing Authority also known as NYC HA HPD and the New York State Department of Homes and Community Renewal all of these programs follow the same set of rules set by HUD, but each has different policies and procedures and is administered separately the voucher program allows tenants to better compete in the housing market because the subsidy increases their buying power empowering them to choose where they would like to live the subsidy also promotes housing stability particularly in times when incomes are unstable this is because tenants contribution toward the rent will be adjusted if they gain or lose income in the household let's take a look at the relationship between you HPD and a section 8 tenants the tenants responsibilities to HPD are outlined on the voucher based on the tenants report of their income and household composition HPD the portion of the monthly rent the tenant owes the tenant portion is generally 30% of the tenants adjusted household income the owner enters into a lease agreement with the tenant which outlines the terms of the tenancy and the contract rent the owner also enters into a housing assistance payment or half contract with HPD which outlines the responsibilities of the owner and the agency to access a blank copy of the hap contract you can visit the link at the bottom of the screen the portion bank paid by tenants combined with the subsidy that the owners received from HPD through the HAP contract makes up the entire contract rent for the apartment unit the first step in the leasing process is to complete an HPD landlord package these documents will be provided to you by the prospective tenant the voucher holder this package can seem like a lot of information, but it's required to get us started let's walk through it step by step...
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