You also have the option of getting involved with the Section 8 housing program. The Department of Housing and Urban Development (HUD) oversees the program, which offers rental assistance to low-income families. Approved tenants pay a portion of their housing costs, with the balance paid through the program's housing choice voucher.

From the landlord's point of view, there are pros and cons to the program. You are assured payment of the guaranteed portion of the rent, but not the tenant's share. The government will not pay for repairs if the tenant damages the property. There are sometimes delays in processing your payment, and allowed rents can be low. Talk with your local housing authority about Section 8 to help you determine if the program is one you wish to be involved with.