The Ins and Outs of Section 8 Housing

LANDLORDSTATION -logo - final- icon big - 72 dpiViews on Section 8 rentals vary from landlord to landlord, but there are pros and cons with renting to Section 8 just as any other tenant.

One of the biggest perks of Section 8 is a regular rent check. While it varies from person to person how much the government will cover of their rent, that amount will arrive regularly in your mailbox each month. Many landlords are hesitant to rent to lower-income because they're afraid that the payment won't come through, but as long as the government covers most or all of that rent price that you've set then you'll receive the money

You receive free advertisement as well. Just drop by your local offices and pass out flyers. As long as your property is approved for Section 8 housing you can pass out your own advertisements and even put your name on a list for the property for people to take a look at. You will need to make sure that the property meets all of the Section 8 requirements and receive regular inspections to it to keep it up to their code, but it makes for an easier way to advertise the property and receive interest.

Many landlords are hesitant about renting out to Section 8 tenants because of the horror stories that they've heard. It's true that you might find it more difficult to obtain any compensation for damages done past the initial deposit. The tenant may leave the property in good condition or they may trash it, there's no way to know, but you'll still be able to run a tenant screening on them as you would any other tenant to avoid truly horrific tenants.

BiggerPockets as a great Pro and Con article that talks about Section 8. Click on the links to view each one.
POSTED February 13 2014 10:32 AM

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