Hi, i just started to look into Section 8, and was wondering if any landlords here have any experiences or stories to relay to a possibly new section 8 landlord.
I have had a few Section 8 tenants over the years. I use a management company for all my rentals, and they do not mind filling out all the paperwork, scheduling the housing authority inspections, and coordinating repairs required by the housing authority as a result of the inspection.
Section 8 tenants have been no worse that my regular tenants and in a few instances, the Section 8 tenants were much better tenants. Individual experiences my vary, but my Section 8 tenants renew their annual leases and stay longer than my regular tenants. Once I had a Section 8 tenant for six years when my average turnover was two years.
If you have decided landlording is for you,
Section 8 may be just one source of tenants.
How does it work exactly? I think I understand a little. A local government agencey helps with some or all of the tenants rent, correct? So it is easier to find tenants?
Do they also pay to have the place fixed up if the tenant bails and leaves the place a reck?
Call the HUD Housing Administrator for your area. Most likely you will find them in the County Government listings in your telephone book. These folks administer the Section 8 program. They will advise you on their procedures for having your property inspected and securing a Section 8 tenant.
In my area, Section 8 is a voucher program in that the tenant is responsible for a portion of the rent plus the utilities. The tenant's share is indexed to current income. Anything not paid by the tenant, is paid by Section 8. Section 8 does not have a 100% rent subsidy program in my area.
If a Section 8 tenant leaves the place trashed, the landlord pays repair costs that exceed the security deposit -- just the same as you would with any other tenant.
The housing authority does do annual property inspections (health and safety).
I deal with several rentals under section 8 and I love the on time rent, but 98% of my renter's pay on time. I run my rentals a little different, if they are late they owe me a $50 rent fee or a days work on one of my rehabs or they are evicted.
I suggest the following to answer all your questions.
Every section 8 inspector will be a little different. You must find out what their preference is-no shingles missing or all screens on every window or screen doors on every door, or a window in the bathroom. After you figure this out and have these type of repairs completed you will have few problems if any.
I have found the inspector can make you or break you......Be nice.
I have had a few Section 8 tenants over the years. I use a management company for all my rentals, and they do not mind filling out all the paperwork, scheduling the housing authority inspections, and coordinating repairs required by the housing authority as a result of the inspection.
Section 8 tenants have been no worse that my regular tenants and in a few instances, the Section 8 tenants were much better tenants. Individual experiences my vary, but my Section 8 tenants renew their annual leases and stay longer than my regular tenants. Once I had a Section 8 tenant for six years when my average turnover was two years.
If you have decided landlording is for you,
Section 8 may be just one source of tenants.
Question about section 8...
How does it work exactly? I think I understand a little. A local government agencey helps with some or all of the tenants rent, correct? So it is easier to find tenants?
Do they also pay to have the place fixed up if the tenant bails and leaves the place a reck?
Thanks for your help.
Cheers,
Nick
Call the HUD Housing Administrator for your area. Most likely you will find them in the County Government listings in your telephone book. These folks administer the Section 8 program. They will advise you on their procedures for having your property inspected and securing a Section 8 tenant.
In my area, Section 8 is a voucher program in that the tenant is responsible for a portion of the rent plus the utilities. The tenant's share is indexed to current income. Anything not paid by the tenant, is paid by Section 8. Section 8 does not have a 100% rent subsidy program in my area.
If a Section 8 tenant leaves the place trashed, the landlord pays repair costs that exceed the security deposit -- just the same as you would with any other tenant.
The housing authority does do annual property inspections (health and safety).
I deal with several rentals under section 8 and I love the on time rent, but 98% of my renter's pay on time. I run my rentals a little different, if they are late they owe me a $50 rent fee or a days work on one of my rehabs or they are evicted.
I suggest the following to answer all your questions.
1) http://www.rrha.org/html/section8.htm
2) http://www.census.gov/apsd/techdoc/sipp/sipp96w1.pdf
3) http://www.huduser.org/periodicals/rrr/payments.html
4) http://www.peoples-law.com/peoples/md/Elderlaw/elderly_landlord_tenant_faqs/subsidized_tenant_rent_charges.htm
5) http://www.umich.edu/~aatu/subsidized.html
6) http://www.propertyboss.com/faq/How_Do_I/Subsidized_Rent.htm
7) www.rurdev.usda.gov/
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Every section 8 inspector will be a little different. You must find out what their preference is-no shingles missing or all screens on every window or screen doors on every door, or a window in the bathroom. After you figure this out and have these type of repairs completed you will have few problems if any.
I have found the inspector can make you or break you......Be nice.
as long as you keep up the property and are not a slum lord you will not have any problems with the section 8 housing authority
John