Posted by Hal Roark on December 18, 2002 at 07:50:14:
nt
EXPERIENCE W/ SECTION 8 - Posted by Dev
Posted by Dev on December 17, 2002 at 19:03:24:
Hi! Has anybody had any experience renting a property out as a Section 8 landlord? Does the property get trashed more so than a traditional rental scenario? Also how hard is it to qualify? I am in the state of VA. Thanks
Re: EXPERIENCE W/ SECTION 8 - Posted by Aaron-TX
Posted by Aaron-TX on December 18, 2002 at 19:27:25:
I love S8 tenants. Guarenteed rent check, and they’re usually good since if they get evicted, they can lose their benefits. Nothing like the fear of God to make them behave.
Re: EXPERIENCE W/ SECTION 8 - Posted by Dave T
Posted by Dave T on December 17, 2002 at 23:30:23:
While my experience is in MD, I believe there are not that many differences between the two states in how the Section 8 program is administered.
Before the housing authority will place a Section 8 tenant in your property, you must first pass an inspection (health and safety). The inspection has always been straightforward with no unusual requirements. The most I have ever had to do is install GFI outlets in the kitchen and bathrooms.
After your property passes inspection, then you may be offered a Section 8 tenant. The tenant will probably be on a voucher program where the tenant pays a part of the rent and the housing authority pays the rest. There are administrative requirements to be met, so expect to fill out some extensive paperwork periodically. The housing authority will reinspect your property before each lease renewal, and the amount of your rent and subsequent rent increases will be limited by the housing authority.
In my experience, Section 8 tenants are often better than my other tenants. They tend to keep the place neater, and are quicker to identify minor repair problems before they become costly repairs. My Section 8 tenants also tend to stay in my units longer – minimizing turnover vacancy.
Re: EXPERIENCE W/ SECTION 8 - Posted by Eric - GA
Posted by Eric - GA on December 17, 2002 at 19:26:57:
Dev-
What I’ve found is that every question you could ever think about asking has already been answered on this board. Most people really want to answer stuff that requires some thought or creativity. So, instead of asking here first, why don’t you hit the SEARCH button, put in “Section 8” and you will find, like I did, that there are 813 posts that have been made on this issue. If, after reading all of those, your questions aren’t answered, I’m sure everyone here would be willing to help. Everyone here is really nice, but it doesn’t show much initiative if you didn’t try to look for the answers yourself first.
Eric - GA