Our Program
Phase 1 Eligibility :
- Landlord Advantage encourages New Mexico landlords, outside of Bernalillo County, to rent to those with Housing Choice Vouchers / Section 8, opening doors to rental units across NM, through financial guarantees, relationship building, and outreach.
- Landlord Advantage does not currently cover Tax-Credit / LIHTC Properties under their 15-year compliance period.
Claims for time off market (TOM):
Landlords of new HCV/Section 8 tenancy are eligible for a $500.00 payment. The Time Off Market payment pays for the additional time it takes to complete the inspection, and the landlord’s time to complete necessary paperwork. Must be filed within 30 days.
Claims for upgrades and needed improvements:
Up to $1,000 is available to make improvements needed to meet minimum HUD standards before an eligible tenant moves in. Upgrade funds may be used prior to move-in if an initial inspection conducted by the Housing Authority reveals deficiencies before renting to a Housing Choice Voucher tenant. They can also be used after an annual inspection. They must be applied to those items that were deemed to be inadequate during the inspection. Must be filed within 60 days.
Claims for damages:
Up to $3,000 is available to reimburse landlords if repair costs exceed a tenant’s security deposit. Damage claims are available for use both during and after a tenancy. They are intended to address any damages beyond normal wear and tear that occur from anyone in the Housing Choice/Section 8 Voucher household during the tenancy.
To be reimbursed for damages, the landlord must provide an invoice with pricing from a vendor(s). A landlord may charge up to $20.00 an hour for their own time if they make their own repairs. For items that have been purchased at a store, landlords must submit a receipt showing the amount that was paid. Photographs of the damage are also required. These funds should only be applied once the security deposit has been exhausted, when the tenant has vacated the unit. Claims may be initiated during an existing tenancy or within 60 days of termination of occupancy by an eligible tenant.
Claims for vacancy loss:
A landlord whose unit is damaged by a HCV holder may be eligible for a $1,000 vacancy payment. Vacancy loss, is reimbursable if 28 days or more are needed to make repairs after a tenant vacates the rental unit. A rental unit can not be occupied while the unit is being made rent ready. Must be filed within 60 days.
Landlords may receive a maximum of $6,000 in any 12-month period for each individual HCV tenancy for any combination of the financial remedies listed above.