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I am certain that all recipients of Sec 8 vouchers aren't the irresponsible, home trashers that Steve has experienced. However, when interviewing people to rent your home, use your senses wisely, they'd hardly steer you wrong. You will know right away if you want that person in your home or not.
My home is on the market as a rental property in the city of Atlanta. Rent is $2000, but realistically Section 8 will probrably approve around $1700. That aside what would you charge a section 8 tenant for security deposit on a $2000 rental. I know they can't afford much but I need to protect my interest as well. Also, would you be willing to allow the tenant to pay the security deposit over time?
No. The rental business is not a charity. If the tenant can not afford the deposit then he/she can not afford to rent your house. This should be applicable to all prospective tenants regardless of their financial means.
I suggest that you educate yourself on the rental laws of Atlanta and get a book on how to be a landlord. Don't assume that if you rent to a section 8 tenant that everything will be okay. You need to thoroughly screen the tenant and educate yourself. Good luck to you.
Yes my home is renting for above the median value, I know. Which is why I veered toward section 8. Many of the projects in atlanta are being torn down which has resulted in about 50,000 people being displaced, so I thought I'd have a good chance of being accepted into the program. Average rental rates on my side of town is about $1400 to $1500. My mortage plus taxes on a $200k loan is $1764. I live in the home alone and have never missed a payment, but I struggle to make ends meet due to this high mortgage. I thought about roommates, but figured I'd have my privacy if I just move into a smaller place and rent the entire home out. If the section 8 plan falls through then my plan is to stay here and just get roommates. I have a 4 bedroom/2.5 bath craftsman style home. Fairly new, built in 2004.
So to answer your question, desperation is what has me looking at the section 8 program, oh and guaranteed rent. At first I intially thought I'd rent the home to students, but felt that section 8 tenants would be a little more responsible than students or am I wrong?
Do not rent to section 8 people from the projects. You are looking for trouble. What about your neighbors?
I am certain that all recipients of Sec 8 vouchers aren't the irresponsible, home trashers that Steve has experienced. However, when interviewing people to rent your home, use your senses wisely, they'd hardly steer you wrong. You will know right away if you want that person in your home or not.
My wife and I became first time Section 8 landlords 2 yrs ago, in southwest Nebraska. Rentals here are slim to none and worse for disabled etc.
When we interviewed our first possible tennet the person was real nice but told some real off color jokes in front of us and said we did not need to fix or clean anything and that was okay for him. He never got a call back from us.
Second applicant was a mom and 17 yr old kid and passed with flying colors. We rented to them for 2 yrs until tennents kid moved out which made her share of rent go up so she moved in her ex con boyfriend and his ssi and wanted everything under the sun done to place. Like new sod, paint a different color etc.
This is a 2/1 12 x 60 trailer that was completely remodeled with new, and we gave them notice to leave and they left with security deposit worth of damage. 350.00 worth paid by state. The mom was clean and good and boyfriend changed that.
Now we have gone a step further and put on new roof, new windows, doors, new inside paint, appliances, and already had new carpet, vinyl, bathroom, furnas, water heater,. Also putting on new wood siding.
We will be raising rent to 500.00 from max of 350.00 from Sec. 8, and renting to non-sec. 8 this time around and see how this works.
I am certain that all recipients of Sec 8 vouchers aren't the irresponsible, home trashers that Steve has experienced. However, when interviewing people to rent your home, use your senses wisely, they'd hardly steer you wrong. You will know right away if you want that person in your home or not.
What makes you "certain"? I've rented to dozens of Sec 8 tenants, though none in the past 10 years. Most of my professional counterparts no longer do so either. We all found the program and its participants to be difficult to manage and work with.
I'm one of those recipients and my daughters and I have never done any damage to anyone's property .. I pay my portion on time every month and although some people on sec 8 live and act like animals, all of us are not that way. I never needed it until 2003, but it has been a very good resource for me and my family. It's usually the people who aren't used to having nice things who don't take care of where they live. I just wish that someone's misfortune during hard times weren't always used against them as a stigma. On one hand you have irresponsible people making things hard for the deserving citizens who need the help. On the other hand you have those who havebeen burned by one those types, looking down on and judging others based on that experience.
My home is on the market as a rental property in the city of Atlanta. Rent is $2000, but realistically Section 8 will probrably approve around $1700. That aside what would you charge a section 8 tenant for security deposit on a $2000 rental. I know they can't afford much but I need to protect my interest as well. Also, would you be willing to allow the tenant to pay the security deposit over time?
Protect your interest by staying away from Section 8!
wow all of you in here are very very very stereotype people. I know they say one bad apple spoils the bunch, but thats not true if people would stop putting section 8 in the scums oF the earth maybe they would know how to treat something nice. Im in the army and i have section 8 i dont keep my house dirty im looking to improve my house. Its hard for me because im restricted to go down in certain areas and that is where they want to put all section 8. So now i have to look beg people to help me out. thats some bull.
Section 8 is not all bad you have to do your research on a person. plus most times irst impressions will let you know or even ask to see where they live now before you commit to a section 8 male/female.
I recomended extreme caution to the landlords considering renting to Section 8 tenants. But if you must, always get a full security deposit, all due and payable before keys are given to move in. I recomended security deposit be the same as a full month's rent plus another couple hundred dollars for pet deposit.
Believe me, if they can't get in without paying the deposit, they will come up with the entire deposit amount. That way, the landlord is covered for some of the danage.
Rent, by the way, is not guaranteed. There are several different circumstances where the landlord will not receive any rent.
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