What are the advantages and disadvantages of renting a Section 8 property?
2,209Can I accept section 8 on any rental house?What are the advantages and disadvantages of section 8?What fees/forms may go along with section 8?
3 answer(s)
#1 Awarded – Best AnswerAbout 10 years ago
Participation in Section 8 housing is two-fold and regulated by HUD.
The tenant participant must qualify by meeting the government's guidelines to participate and receive Section 8 housing vouchers, and the housing the tenant chooses must also meet the HUD guidelines to be Section 8 housing.
All the rules and guidelines for participating in Section 8 for both tenants and landlords can be found on the HUD website.
Here is a link to the page,
http://portal.hud.gov/hudportal/HUD?src=/program_offices/public_indian_housing/programs/hcv/about/fact_sheet
The tenant participant must qualify by meeting the government's guidelines to participate and receive Section 8 housing vouchers, and the housing the tenant chooses must also meet the HUD guidelines to be Section 8 housing.
All the rules and guidelines for participating in Section 8 for both tenants and landlords can be found on the HUD website.
Here is a link to the page,
http://portal.hud.gov/hudportal/HUD?src=/program_offices/public_indian_housing/programs/hcv/about/fact_sheet
source:
http://portal.hud.gov/hudportal/HUD?src=/program_offices/public_indian_housing/programs/hcv/about/fact_sheet
http://portal.hud.gov/hudportal/HUD?src=/program_offices/public_indian_housing/programs/hcv/about/fact_sheet
Like (2)
DislikeAbout 10 years ago
I think it would be the same pros and cons as renting to any family. Those are:
1. Paying the rent on time or nonpayment of rent.
2. Keeping the place in good condition or trashing the place.
3. Adhering to the lease requirements or getting 15 pets and 30 extra family members to stay unbeknown to you.
There are tons of elderly and disabled people on Section 8. These folks make some of the best tenants a person could ask for. Hang out in a Section 8 building for a week and get to know the tenants. Generally speaking, they're filled with good people. Don't fall prey to the stereotypes.
As a landlord, it's your duty to screen your tenants thoroughly.
1. Paying the rent on time or nonpayment of rent.
2. Keeping the place in good condition or trashing the place.
3. Adhering to the lease requirements or getting 15 pets and 30 extra family members to stay unbeknown to you.
There are tons of elderly and disabled people on Section 8. These folks make some of the best tenants a person could ask for. Hang out in a Section 8 building for a week and get to know the tenants. Generally speaking, they're filled with good people. Don't fall prey to the stereotypes.
As a landlord, it's your duty to screen your tenants thoroughly.
About 10 years ago
Hello Mark,
I do not know much about Section 8 housing. I do know that the subject property may be subject to inspections and rent limitations based on the teants income. There may be some additional notice requirements should you need to evict.
The best thing would be to consult with a real estate attorney who is up to speed on HUD Section 8.
I do not know much about Section 8 housing. I do know that the subject property may be subject to inspections and rent limitations based on the teants income. There may be some additional notice requirements should you need to evict.
The best thing would be to consult with a real estate attorney who is up to speed on HUD Section 8.
Disclaimer: Answers provided are just opinions and should not be accepted as advice.
3 answers
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