Posted by Darren (MA) on November 03, 1998 at 06:00:06:
Section 8 is kind of hit or miss and I’m sure you’ll hear stories from both sides. I’ve had great luck with my Section 8 tenant. He’s probably my most conscientious tenant, but I’m not looking to bring in any more Section 8s just because of this good experience. I know it’s important to have the rent check sent right to you, but any good tenant will see to it that they get their rent checks to you on time as well.
Here’s what I do to collect my rents, and I’ve found that it works really well. Whenever a tenant moves in, I’ll give them 12 stamped envelopes addressed to my PO Box with the name of my Trust on them. I’ve assured my tenants that if their rent checks are received prior to the first that they won’t be deposited UNTIL the first. This system has worked well for me. I usually have everyone’s checks somewhere between the 30th and the 3rd.
can anybody tell me about sec 8 do you have any problems with them. i was thinking thats the best way to go because the money comes right to you.how do i go about getting sec 8.
Posted by Paul Macdonald on November 03, 1998 at 07:55:48:
I have several mortgage clients that swear by Sec. 8. - not only do they get their rent checks ontime, they tend to be premium priced rents for the neighborhoods also. Don’t be slack though. You MUST do your normal pre-rental work; a credit check and surprise visit to where they live now.
You’ll find scumbags and angels within the section 8 program just like you’ll find on the outside. Just be picky.
Where to find out about Sec. 8? Call your local county houing authority.