Choosing to Accept Section 8 Tenants

for-rent-148891_1280It will depend on which landlord you speak to on what the current opinion is about Section 8 properties. Some landlords love it and some hate it, and they'll have their own reasons and their own stories, but it's always good to check out all sides before choosing to jump into the middle of it.

When you open up your property to Section 8 tenants you often will find that in some cases very little goes into the marketing process. Your property can be put on a list at the Section 8 office and your potential tenants will have a much smaller selection of housing options to choose from, as opposed to tenants that are paying their full rent outside of the Section 8 program. You will receive part of the rent in your account every month like clockwork, so it provides some stability that you might not be guaranteed otherwise.

There are yearly inspections that must be conducted every year on a property that is being leased as Section 8. These determine if the property is up to standard for the program. The tenants are also low-income, so while the government-paid portion of the rent will likely come in on time, theirs may or may not. There are some that believe that there is a higher crime rate associated with Section 8 tenants as well.

Before signing up to put your property on the market as Section 8, make sure you are aware of the possibilities.

POSTED September 08 2014 2:02 PM

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