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Who has Section 8 housing experience?

I have a client who wants to branch into sec 8 rentals.

So im looking for some feedback to pro's and con's

He seems to think there is alot of people with vouchers and

not enough properties to fill the local needs.

What is Section 8?
Section 8 is a federally funded housing subsidy program that provides low-income families the opportunity to choose and lease safe, decent and affordable privately owned rental housing by supplementing what they could afford on their own. Public Housing Authorities apply to the U.S. Department of Housing and Urban Development (HUD) for Section 8 funds, which are then provided to eligible families in accordance with HUD rules and regulations.

Posted by John Cashion on 05/19/2008 09:21 PM

Comments (3)

3 Comments on Who has Section 8 housing experience?

MAY

2008

It's guaranteed $$$ from the government. Lot's of paperwork, and if they do anything wrong while they are renting from you they lose their voucher's. It's a good thing. There are plenty properties who will accept Section 8 and I have a few rentals just like that.

I've had only one deal with a section 8 tenant; the government paid, I believe, $800, & the tenant agreed to pay another $400 for total rent of $1200+/-. It didn't go well. She was late with her share of the rent numerous times & when she left the property, it was in awful condition (the townhome had been pristine when rented to her). Lots of paperwork, I recall. I'm not eager to go through that again. My listing customers haven't been either, at least, not yet.

I have had a couple of experiences and they have been positive.I think sometimes we paint all section 8 beneficiaries with the same brush - a bad move.

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