Interested families, who believe they are eligible, submit applications to the Housing Choice Voucher Program through public housing agencies (PHAs). Administering PHAs then determine whether a family is eligible. If a family is deemed eligible, they are then granted a Section 8 voucher. Families then have a limited amount of time to find a suitable rental unit that must be inspected and approved by the PHA. The tenants, owner and PHA will enter a contractual agreement by which the PHA will pay the owner the amount equal to the difference between 30 percent of the tenant's adjusted income (or 10 percent of the gross income or the portion of welfare assistance designated for housing) and the PHA-determined payment standard for the area. The monthly rental rate must be reasonable compared with similar unassisted units or the “fair market rent” (FMR) in the general market. Tenants may choose a home with a higher rent than the FMR, in which case they would pay the owner the difference themselves, or they may choose a lower cost rental and keep the difference.