Section 8 Landlord Incentive Information

To all HCV (Section8) Landlords,

 

LMHA continues to work towards improving our program for landlords participating with our program. Most of you are already experiencing the recent changes we made to help minimize your vacancies by getting the initial inspections within 72 hours of completed lease papers, for landlords who furnished email address. We are now pleased to announce the following incentives for new units (a unit that has never been previously leased to another LMHA HCV participant) to our program. These incentives will be effective September 1, 2020.

 

Owner Incentive Fees LMHA will provide a one-time $500 payment for leasing a new unit to a HCV family (i.e. a unit has never been previously leased to another LMHA HCV participant). This incentive is payable upon execution of a HAP contract. Additionally we see there is currently a low inventory of one-bedroom units in the Louisville Metro area, LMHA will also offer an additional $500 payment at the one-year anniversary of the HAP contract to owners who lease a new one-bedroom unit to HCV families.

 

Vacancy Loss Payments Vacancy loss payments will be made available to owners of new units added to the program (i.e. a unit has never been previously leased to another LMHA HCV participant). whose tenants vacate the unit—without notice or LMHA authorization—prior to the end of their lease term. To qualify for the vacancy loss payment, the unit owner must lease the unit to another HCV family within 6 months of the date that the owner notifies LMHA of move-out. Owners will be paid only for the length of time the unit was vacant, with a maximum payment equivalent to two months of HAP. In addition, LMHA will only reimburse owners to the extent that the lost rent is not covered by the security deposit (after being applied to any damages). Finally, owners must demonstrate a good faith effort to re-lease the unit to another HCV family during the period of vacancy.

 

Damage Loss Payments LMHA will also provide damage loss payments to owners who agree to accept a reduced security deposit for a new unit added to our program (i.e. a unit has never been previously leased to another LMHA HCV participant). The reduced security deposit will help mitigate the financial barriers families face at lease-up, reducing time for landlords to find a qualified HCV tenant. The reduced deposit must be equal to the lesser of one month of the tenant portion of the rent or $200. At move out, LMHA will award a damage payment for tenant caused damages up to a maximum amount of one month’s contract rent, which is typically the normally required security deposit amount, minus any amount covered by the tenant security deposit.

 

We have sample forms that we will mail to you for review. Please contact me with any questions you may have.  We look forward to your participation and success.

 

Sincerely,

Mark E. Roseberry

Customer Service Ombudsman / Field Representative

502-569-4180

Roseberry@lmha1.org