The amount of rent paid nu the HCVP families is determined by a few factors. Typically, tenants pay 30% of their adjusted income towards the rent. The adjusted income is the household’s gross income minus all HUD applicable deductions.
The unit size is determined by age, gender, and the number of family members in the household. Landlords should verify, that the unit size listed on the voucher matches the bedroom size of their unit before accepting the family. All units are subjected to Cliffside Park Housing Authority approval.
After having qualified for the program, the family receives a housing voucher. The family then is responsible for finding a suitable housing unit where the owner agrees to rent under the program. (This unit may include the family’s present residence)
The Cliffside Park Housing Authority (CPHA) then pays a housing subsidy directly to the landlord on behalf of the participating family. The family is responsible for paying the difference between the actual rent charged by the landlord and the amount subsidized by the program.
Income is money being brought in to the household. It may be Social Security/Disability, Work Wages, Child Support, TANF, Family Help, unemployment, etc.
Assets are any bank account, Cash Apps, IRA, annuity, life insurance policies. etc. that a household member may have in their name.