Posted in Blog  
  on Nov 05, 2012

Section 8 Landlord Pros and Cons

If you have ever rented a living space and have had to move many times, you’d already know how difficult it is to find decent, affordable and secure living premises. A person has to deal with the same problems when trying to find a rental space in any US state. That is so because most people think that America still doesn’t have mature rent control laws making it extremely difficult to find private renting spaces. What happens as a result—well you know the answer, most families are forced to live in substandard areas where crime rates are high and living standards are very poor.

This has been the case for a very long time; therefore, the US government had to take action. They have devised a program to aid all those individuals who find it difficult to find a nice, habitable place. The program, named the Section 8 program, aims to facilitate the elderly, low-income families and others like the disabled and help them afford the living expenses of a good area. Landlords are asked to work with the local housing authorities and offer their rental units to the specific audience. For doing this, they get to enjoy several incentives. This process works only when both the landlord and tenant are approved by the local housing authorities working within that area.

However, there are advantages and disadvantages to every program. Therefore, you need to take your time and conduct some research to decide if you really want to become a landlord under the section 8 program. One of the biggest advantages is that landlords won’t have to deal with issues related to nonpayment of rent. It means that with such a program it is a guarantee that you will receive the rent in a timely fashion because late rent or no rent cost section 8 tenants their housing voucher. Secondly, all tenants are pre-screened and the local housing authorities check all cases personally. Tenants with bad record and bad credentials will automatically be rejected thereby ensuring you get good tenants. Lastly, there is a facility of running a free advertising campaign for both landlords and tenants; it works perfectly well for those who want tenants and for those who are looking for good residencies within their price range.

Even though the pros are convincing there are also cons to the program. The first con for the program would have to be the fact that there are routine inspections. For the landlord, the property will have to pass the local housing criteria and the health checks. Secondly, there may be difficult tenants. This is because these tenants are not accustomed to paying high rent and so they may not keep the rental space in good shape. However if you keep your eyes on your property and tenants, there is no reason why good tenants cannot come your way.

Lastly, there is a misconception that landlords need not do any work. Unfortunately, that is a myth; landlords will still have to pre-screen tenants and inspect the property on a regular basis. So, do take your time to consider these pros and cons before making a final decision.

Related

The Landlord Tenant Board: What it is and When it is Needed

Many times, there are issues between a landlord and a tenant that need to be resolved but are failed to do so, because both parties have gone too far with their actions, and have retaliated in the... More


How to Create a Residential Lease Agreement

Where there is a landlord, there will also be a tenant, and it is no surprise that these two parties can only work together once there is some sort of agreement, contract or a binding deal in place.... More


The Best Sites for Rental and Lease Agreement Templates

Many landlords find it difficult to write and draft a lease agreement. Since every State has its own general template, it can also be difficult to make sure your lease agreement meets all the criteria... More


The Best Landlord Associations for Landlords to Join

If you’re a landlord and want to manage your business in a better way, you should endeavor to get in touch with those industry experts who have the experience and the skills to help you do it. This is... More


Unpaid Rent

When you talk about the most common disputes arising between landlords and tenants, nonpayment of rent has to be there in the list. People rent their properties to earn money, and when a tenant... More


Section 8 Landlord Pros and Cons

If you have ever rented a living space and have had to move many times, you’d already know how difficult it is to find decent, affordable and secure living premises. A person has to deal with the same... More


Landlord Inspection Checklist: Rights, Letters, and Reports

Landlords across the state have the prime responsibility to make sure they inspect and up keep their property once they have rented it to the tenants. Inspections can occur monthly or yearly depending... More


Landlord Maintenance Costs and Responsibilities

Everyone knows that a landlord’s job is not easy. These folks have specific duties and responsibilities that they must perform in order to be fair. Being a landlord is not a position but it is, in... More


When to Withhold Tenant Security Deposit

Asking for a security deposit is quite common in property dealings. The reason to ask for a security deposit is to have something that would help a property owner recover some of their financial... More


How to Report Bad Tenants

Bad tenants are the worst-case scenario for any landlord; no one wants them, and if someone has them, they want them out in any way possible. There are times when landlords try as much as they can to... More