Posted by MShumate on April 03, 1999 at 09:48:35:
Ben,
Thank you for the information. I am located in Virginia.
Section 8 Rental Program - Posted by MShumate
Posted by MShumate on April 03, 1999 at 06:43:41:
I would like to have your opinions and advise about the Section 8 Rental Program. I currently have a house that I have had under the program for 3 years with an existing tenant when I bought the property. I received a partial payment from the program and the balance from the tenant. I haven’t had any problems with payment other than the tenant which has moved and I have advertised the property for rent. I have had several calls wanting to know if I would be willing to rent under the program. I know that I can get the full rate under the program. I am not sure how to screen these people. What should I do, ask, look for, etc. Can you add an addendum to the lease? If so, what should I add in order to protect myself from damages etc. that is not included in their lease?
Thank you for your help.
Re: Section 8 Rental Program - Posted by Jaime
Posted by Jaime on April 04, 1999 at 20:03:06:
I screen Sec 8 tenants exactly the same as everyone else. Sometimes we make some concessions on credit checks, especially if Sec 8 is paying the majority of the rent.
We also have a lease with the tenant that stipulates they are responsible for the entire amount of the rent if something should happen to their rental assistance.
We’ve had people mess up their assistance by not complying with Sec 8 requirements for yearly recertification. AS long as your lease stipulates they must pay the entire amount you can get them out for non payment. If you plug in the tenant portion of the rent in your lease and Sec 8 stops paying you could be in trouble.
Re: Section 8 Rental Program - Posted by Ben(GA)
Posted by Ben(GA) on April 03, 1999 at 07:56:47:
You didn’t say where you are located, but in my area (GA) the Section 8 program is pretty good. They are tough on inspections, but once approved, it goes well.
As far as screening the prospective tenant goes, just do what you would normally do. ie. get an application, do background and credit checks etc. Also my Section 8 rep will give me history on the Tenants previous rentals if they have the info. I like the older more settled Tenants because they tend to take care of the place better. Also if they do not pay as agreed, they are in danger of losing their voucher or certificate, so most of the time they will pay as agreed. Good Luck.
Ben