Section 8 landlording

Has anyone here had experience with section 8 landlording? What do you think? Can you share any details? Thanks

I know propertymanager has quite a bit of experience with this.

There has been a few good threads discussing the topic…do a quick search for info.

motivatedCEO,

Basically, renting to Section 8 tenants is exactly like renting to regular tenants, except the government pays part (sometimes all) of the rent. The biggest downside is the property inspection that Section 8 performs at the beginning of the contract and then anually. They are really big on lead-based paint issues when there are children under 6 years old. All of the paint must be in good condition.

Mike

I have some section 8 exp…yes section 8 is very picky when it comes down to inspecting and approving a property. Any other questions?

The inspections are relatively easy here. The key is to screen-screen-screen just like you would any other tenant.

There are a few section 8 tenants out there that have had bad situations and are working to make their situation better. Then there are the life time section 8ters that are just bilking the system.

There are a few section 8 tenants out there that have had bad situations and are working to make their situation better. Then there are the life time section 8ters that are just bilking the system.

I’ll take either as long as they meet my screening criteria. It’s all about the money!

Mike

I have three Section 8 tenants in Dallas, TX. The checks come on time every month, so as an investor I am happy. I do need to keep the property in good conditions, I do that anyway so the standards do not really affect me.

If you get an opportunity you should accept a Section 8 (preferably older) tenants.

Another nice thing with section 8 tenants is if they screw up on there portion of the rent and get evicted they can be kicked off the program, so they are pretty motivated to pay on time.

Eric medemar

Another nice thing with section 8 tenants is if they screw up on there portion of the rent and get evicted they can be kicked off the program, so they are pretty motivated to pay on time.

That is perfectly logical, but Section 8 tenants frequently do not act logically. I have evicted several Section 8 tenants and they have indeed lost their Section 8. The last one was a young, single mother with a baby and no criminal history. She decided that she liked heroin better than receiving a free apartment, courtesy of the taxpayers. Now, she is homeless and her baby has been taken by the government.

Mike

Hello

How do you find Section 8 tenants in your area? Goverment listings?

Thanks for the help.

Jerry

You can stop by the City Housing agency and post a listing there. You should also search online for the city agency. For example Dallas Housing Authority www.dallashousing.org site allows you to post your property listing.

Good luck