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Message
Landlords - Section 8
Posted on 1/14/15 at 8:28 pm
Posted on 1/14/15 at 8:28 pm
What's your experience with this?
1
Posted on 1/14/15 at 9:52 pm to LSUWhoDat
Some people will say they hate it; some will say they love it. If you have lower end properties then it's great bc rent is guaranteed but if your strategy is to buy no stress properties in good areas then section 8 isn't the way to go. Sometimes the gubment doesn't update the areas and amounts and you can get paid more than market rent but it isn't likely.
Posted on 1/15/15 at 9:04 am to theoldwiseone33
quote:
Some people will say they hate it; some will say they love it. If you have lower end properties then it's great bc rent is guaranteed but if your strategy is to buy no stress properties in good areas then section 8 isn't the way to go. Sometimes the gubment doesn't update the areas and amounts and you can get paid more than market rent but it isn't likely.
Pretty much sums it up. There are some good points and bad points with it, just like any contract. I had at one point 2 section 8 houses, but eventually sold them. Then a few years later sold the rest of the rental properties except for 2. It is a business that takes a lot of time, that i simply didn't have.
Posted on 1/15/15 at 9:10 am to chadg
The program CAN work well, provided that the local housing authority actually inspects & supervises tenants AND if the landlord keeps the property in good repair. All too often, the experience is negative--housing authorities don't bounce bad tenants or even make the required inspections.
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