In many parts of this State, large numbers of citizens are faced with the inability to secure affordable rental housing. Due to either insufficient wages or a shortage of affordable rental housing stock, or both, many families have difficulty securing decent housing, are subjected to overcrowding, pay too large a portion of their total monthly income for housing and consequently suffer the lack of other basic needs, live in substandard or unhealthy housing, or experience chronic housing instability.
Instability and inadequacy in housing limits the employability and productivity of many citizens, adversely affects family health and stress levels, and impedes children’s ability to learn; such instability produces corresponding drains on public resources and contributes to an overall decline in real estate values.
Unaffordable rental rates lead to frequent tenant turnover and difficulty filling vacancies, resulting in unstable income streams for rental property owners, the limited ability of owners to properly maintain their properties, substandard rental housing, and greater rates of foreclosure. High tenant turnover, poorly maintained properties, vacant and abandoned properties, and overcrowded housing negatively impact the safety and health of communities and the real estate values within such communities.
To address this pressing need, the Rental Housing Support Program (RHSP) was enacted in 2005. RHSP promotes permanent housing through the funding of rent subsidies for these ‘rent burdened’ extremely and severely low-income households. Fewer than half the states in the nation have a rental assistance program and only two other states, Massachusetts and Connecticut, provide long-term rental support.
Among others, the program created by this Act benefits (1) all individuals who record real estate related documents by helping to stabilize real estate values in the State, (2) rental property owners by subsidizing the portion of rent that many of their tenants are unable to pay, (3) those individuals who own real estate in the State by providing an option for affordable rental housing should they one day face foreclosure, and (4) tenants who participate in the program by providing them with rental assistance and the ability to achieve financial stability so that they are able to become property owners themselves. It is the purpose of this Act to create a State program to help localities address the need for decent, affordable, permanent rental housing.
Both DuPage (DHA) and Kendall (KHA) Housing Authorities administer the State of Illinois Rental Housing Support Program, financed by the Illinois Housing Development Authority (IHDA). DHA/KHA were awarded funding to assist families throughout DuPage & Kendall Counties by providing unit based rental assistance to extremely low-income households. Households in the program will pay approximately 30% of their income in rent based on the contribution schedule.
To be eligible for RHSP applicants and tenants must fall within the following income limits:
Effective April 14, 2017
***Maximum annual limits for program participation (by household size) are based on area median income (“AMI”)
If you are interested in providing your unit for the Rental Housing Support Program or if you would like more information, please contact Michelle Ross by phone (630) 593-8218 or by email at email@example.com
THE WAITING LIST FOR THE RHS PROGRAM IS CURRENTLY CLOSED
Link to the RHSP Act in the IL Combined Statutes: