With housing sales slumping, Chattanooga Housing Authority officials want local landlords to rent vacant properties to low-income families with housing choice vouchers.
“You’ve got people renting houses that they want to sell because the economy is so bad right now,” said Tammy Reeves, CHA’s program director of housing choice vouchers, formerly known as Section 8.
Turning empty rental property into voucher homes can bring landlords steady rent, she said.
Within the past nine months, CHA has gained two dozen new landlords in the housing choice voucher program, Reeves said.
But landlord Will Smith says renting to the housing authority has some setbacks.
“They don’t give you what your house is worth,” said Smith. He said he owns 15 properties but makes only two available to the housing choice voucher program because the rent payments are low.
CHA wants to give about $800 a month for a four-bedroom, 21/2-bath home in East Brainerd, but the house is worth $1,200, he said.
Housing officials said they agreed in June to give landlords a rent increase, but those who already had signed contracts with tenants will not see an increase until the lease term has expired, Reeves said.
Property owners also must meet standards set by the U.S. Department of Housing and Urban Development, she said.
Property owners say the biggest advantage is knowing that they’re going to receive a monthly check instead of having vacant properties that draw no income, CHA officials said.
TO PARTICIPATEChattanooga Housing Authority officials will meet with landlords and potential landlords at 6 p.m. Sept. 23 at CHA’s main office, 801 N. Holtzclaw Ave. The group will also meet at 6 p.m. on Oct. 21.
It’s guaranteed rent, said Archie Taylor, a voucher landlord of eight months.
“You don’t have to put any ads in the paper or go through hearing, ‘I’m going to have it next week.’ You just have to wait for [CHA] to approve someone,” he said.
He had a voucher tenant within a month of making his property available, he said.
CHA has issued 655 vouchers since January and about 255 voucher holders have found homes to rent, officials said.
More than 300 properties are needed to house the remaining voucher holders, Reeves said.
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