Does anyone know how the Sec 8 housing program works when you own APTS? (and maybe some pros and cons too…) :anon
Has someone said it will be different in an apartment vs SFH? They’ll still have to inspect the unit. The only thing I can think that would be different is that they’ll look at the general condition of the building as well as the unit. Sect. 8 tenants can be good or bad. You still have to screen them. It’s nice knowing you’ll get the rent on time without having to make phone calls or post pay or quit notices (unless they’re only on partial assistance and the tenant doesn’t pay their part).
Sect 8 carries a bad connotation in general and that may affect your ability to fill up the rest of the units (if word gets out…and it will).
tru…
All you have to do is notify HUD that you are accepting Section 8 vouchers. (BTW/ They are now called “Housing Choice Vouchers”.) HUD will add your building(s) to its list. Your building will have to meet HUD’s HQS (Housing Quality Standard).
Yes its true. I do agree with this.