privately owned rental dwelling units participating in the low-income rental assistance program created by 1974 amendments to Section 8 of the 1937 Housing Act. Under the program, landlords receive rent subsidies on behalf of qualified lowincome tenants, allowing the tenants to pay a limited proportion of their incomes toward the rent.
privately owned rental dwelling units participating in the low-income rental assistance program created by 1974 amendments to Section 8 of the 1937 Housing Act.
Example: A landlord elects to participate in the Section 8 housing program. A prospective tenant's income is $800 per month-low enough to qualify for the program. A fair market rent for the unit is established by the Department of Housing and Urban Development as $200 per month. The tenant pays 20% of income, or $160 per month, and HUD supplements $40 per month to the landlord.
