Posted by Jimmy on April 07, 2009 at 07:42:26:
have had S8 tenants for 8 years. what do you wanna know?
cohiba35 at a-o-l dot com
Anyone Doing Section 8 - Posted by Dave
Posted by Dave on April 07, 2009 at 05:13:33:
I’m interested in using the section 8 program to rent out properties. I was wondering if anyone has any experience with these as I have lots of questions. I’ve been to the website for my state but there wasn’t a whole lot of information available on it. Would anyone mind if I shot them an email with a few of my (basic) questions?
Pro’s and Con’s - Posted by ken in sc
Posted by ken in sc on April 08, 2009 at 05:34:53:
Section 8 is run by local people, and thus can very depending on how those people are to work with. Based on my experience, here are some Pro’s and Con’s:
Pro
Money wired into your account every month on the 1st
Tenants tend to stay longer
Did I mention, rent wired into your account?!?
Con
It takes some time to rent, in that there are inspections and government paperwork that sometimes seems to take a month to get done.
Rents can be slightly lower than market, at least in my area.
Sometimes rent is split, in that the tenant pays you say $200 and the gov’t pays you $600, so there are still collections.
Government inspects every year and gives 2 repair lists. One for the landlord to fix, and one for the tenant to fix. Tenant RARELY fixes there’s, so if you want to keep them you fix both lists.
All in all I like Section 8. The steady rent and long term tenants make up for the government hassle. I have 3 tenants been in over 5 years, and one over 10 years. The 10+ year tenant is a lady, the government pays all her rent, and she told me “I will live here until I die”. Her son added crown molding at his expense. Here’s to a long life for that lady! If I could only get her to quit smoking…
Re: Anyone Doing Section 8 - Posted by Yvette
Posted by Yvette on April 07, 2009 at 20:10:54:
I have been doing section 8 for two years now. Love it. However, you must select what you consider the best out of the group that you interview. The check is always there. Nowdays, section 8 is better than a tenant with just a job.
Re: I love section 8 - Posted by Celeste-fl
Posted by Celeste-fl on April 07, 2009 at 18:40:43:
I wish all my tenants were on section 8… 12 years and no problems.
Good move - Posted by DJ-nyc
Posted by DJ-nyc on April 07, 2009 at 11:18:31:
With all this government money being given out. Also, how can people pay rent when their jobs are being whacked. Section 8 will pay 70% of the rent at least. Just be sure to Screen, screen and then screen some more. I find alot of Sec8 tenants have credit issues so I make sure I give them a “straight talk” lecture about how to treat my place or they will lose their section 8 benefits… Goodluck,
DJ-nyc