Rental Assistance Properties and the HUD 223(f) Loan Program
Rental assistance properties are properties where low-income or very low-income tenants qualify for monthly rental assistance. HUD is involved with several rental assistance property programs, including low rent apartments, in which HUD “gives funds directly to apartment owners, who lower the rents they charge low-income tenants.”
HUD also offers the Section 8 program, in which low-income tenants receive vouchers that will pay for part or all of their rent. In return, Section 8 landlords receive a subsidy from HUD that will pay for the remaining portion of the rent. Properties financed with several types of HUD multifamily loans, including HUD 223(f) loans and HUD 221(d)(4) loans, are eligible to become Section 8 rental assistance properties.