![]() Tends to have longer tenancy - Because the process is longer and more daunting, a CHA resident will tend to stay in a place longer if they are happy with their current manager/landlord. This allows you, the landlord, to prepare for the vacancy and address any issues with the existing tenant. Tenants will not suddenly leave - Typically, because of the slow process of residents moving out, landlords can usually see any upcoming vacancy anywhere from 15 to 45 days in advance. The Chicago Housing Authority only has coverage in the City of Chicago city limits.Ĭhicago Housing Authority Benefits - Before I discuss the nuances, there is a need to explain the positive benefits. Since we have extensive experience in each of these housing authorities, feel free to reach out to us to ask any questions. Depending where you are in the area of Chicagoland, there are multiple housing authorities like Dupage Housing Authority, Housing Authority of Elgin (HAE), & Housing Authority of Cook County (HACC). Don’t let you new property manager learn on your dime.īefore I explain any further, I want to ensure you understand that this is specifically only related to the Chicago Housing Authority (CHA). If you hire a property manager, you must make sure the manager can prove their extensive knowledge of the process, especially before you consider working with them. If you are managing the property yourself, you’ll need to make sure you connect with local property managers or owners that understand this process in order to take advantage of this real life experience. In addition, there are many positives and negatives to setting up your portfolio with this type of income, and I will go through some of them in this write-up. If you’re specifically a first time landlord to a section 8 program in Chicago, you’ll need to learn more about this process, especially if you are going to take your investment properties and generate income working with a HUD Housing Choice Voucher recipient. Working in Chicago with Chicago Housing Authority (CHA) for section 8 tenants can be a very lucrative strategy for your investment portfolio.
0 Comments
Leave a Reply. |