Posted by Greg on July 06, 2005 at 21:22:44:
Thank you for the reply.
In Connecticut I believe tenants will loose their section 8 privileges.
How about older adults or people with disablities on Section 8?
Greg
Section 8 housing - Posted by Greg
Posted by Greg on July 05, 2005 at 21:00:59:
Hello All:
I successfully did my first rehab a couple of years ago. It seemed before everyone started to get interested in REI:-)!
Now I am planning on getting married soon and even relocating to an area not far from where I did the rehab.
I feel like rehabbing homes may be more difficult to fit into my lifestyle at this.
I thought about renting properties to section 8 tenants. I tend to think once I find the properties and they pass inspection then it is just a matter of updating the properties periodically. There is a big demand for section 8 housing.
Just not interested in getting involved with rehabbing homes when I will be about 2 hours away.
Any thoughts.
Thank you
Greg
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Re: Section 8 housing - Posted by Jim (MD)
Posted by Jim (MD) on July 06, 2005 at 21:39:22:
One reason that there is such a shortage of landlords providing quality Section 8 housing is, as Ed and Sean said, HUD does not care about your interests. The advantages of renting to Section 8 tenants (such as HUD paying for tenants damages to your property) have been taken away long ago by HUD. In this area, HUD had been increasing the rent payments to landlords for years. Now that property prices have shot up here in the last couple of years, HUD has decreased rent payments to landlords, sometimes as much as a couple of hundred dollars per unit. As a result, many landlords in this area use Section 8 only as a last resort.
Whether you decide to go Section 8 or market rate, it is up to you to do your due diligence on the tenants’ background.
Good luck.
Re: Section 8 housing - Posted by Ed Copp (OH)
Posted by Ed Copp (OH) on July 06, 2005 at 09:13:50:
You are right. There is a big demand for entitlements and freebies, section 8 being a major player.
It is good that you have rehab experience because often a sec.8 property will need a rehab on about an annual basis. What you call a periodic update is the exception rather than the rule. Sec.8 tenants have nothing invested to speak of, and seem to be unconcerned with the condition of the property when they exit. Several hundred to a few thousand dollars to spruce up is common. Nobody cares except the landlord. HUD sure does not care about your interests.
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Re: Section 8 housing - Posted by Sean (OH)
Posted by Sean (OH) on July 06, 2005 at 13:20:47:
Ed is sort of correct the section 8 tenant doesn’t have much of anything invested, that is if they want to continue living for free.
Here in Lorain County Ohio a tenant can be kicked off of the section 8 program for destroying a landlords property.
The landlord does need to take pictures and call the section 8 office to file a complaint.
I am sure that it is not an easy process and may not happen on the first offense.
When you are running you application process on a potential tenant you are allowed to see there file on past landlords to see what they have submitted.
Our local landlord association (www.LELA.CC)has the top exec from the section 8 office out to speak to our group every 12 to 18 months.
She has made it known that they do not put up with that kind of abuse.
Good Luck.
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