Stable Rental Income: Partnering with Housing Subsidy Programs

Renting to housing subsidy voucher holders is a good way to generate stable and predictable rental income from your properties. Tenants receiving housing subsidies pay a portion of the monthly contract rent based on their adjusted monthly income, and Way Finders pays the remaining portion of the rent directly to the owner. There are two housing subsidy programs available to renters.

Section 8

The Section 8 Housing Choice Voucher Program uses federal funds to provide rental assistance to eligible families, helping them to obtain decent, safe, and affordable housing.

Massachusetts Rental Voucher Program (MRVP)

MRVP provides rental assistance in the form of vouchers to low-income families, akin to Section 8, allowing tenant-based/mobile vouchers to be utilized for any housing unit meeting state sanitary code standards.

Leasing process

There are specific processes a landlord must follow when leasing an apartment to a subsidy holder.

 

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Inspections

Whether you are a participating landlord or new to working with Way Finders Section 8 or MRVP, your unit is required to undergo and pass an inspection before receiving any State or Federal rental subsidies. All units are required to be inspected.

Learn more

Landlord change of address form

If you change your address without telling us it can cause a delay in receiving your housing subsidy payments. Keep us up to date by choosing to downloading and printing the form or complete the form online.

 

Make a positive impact by joining the SNO Mass program

Looking for a way to cut through the red tape of renting to subsidy holders, and get a bonus of $2,400, too?

If you own apartments in high opportunity areas (see map) you can join the Commonwealth’s Supporting Neighborhood Opportunity in Massachusetts (SNO Mass) program.

SNO Mass helps families with school aged children to move to communities that offer greater opportunity, like higher quality schools, parks and open space, and safer, healthier environments overall. Families get access to quality housing. Landlords benefit, too.

When you join SNO Mass you gain access to:

  • A single point of contact with a Way Finders housing expert.
  • A ready pool of prospective tenants – we can help you fill your units efficiently.
  • Accelerated response time. Phone calls and emails returned within one day.
  • Reliable rental revenue stream. The Housing Choice Voucher will cover any loss in your renters’ incomes due to job loss or hourly work reduction.
  • Subsidy payments made promptly each month through direct deposit.
  • Expedited inspections. We guarantee to inspect your unit within three business days after you submit your paperwork.
  • $1,200 cash bonus for every tenant you accept under the SNO Mass program, plus an additional $1,200 when you renew the lease, or rent the unit to another SNO Mass tenant.

SNO Mass is a great way to do well by doing good – but don’t just take our word for it. Read about Frank and Barbara in Longmeadow and their SNO Mass experience.

Interested in learning more or getting started with SNO Mass? Email snomass@wayfinders.org.