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Accepting tenants with Housing Authority/Section 8 vouchers is definitely a way to generate steady monthly income. It is guaranteed money paid by the government the first of each month to home owners that participate in the program. There is a small process to get things in line as far as inspections etc...well worth the time!
Sounds Great.
Your neighbors will appreciate the downward spiral the neighborhood takes after you introduce section-8 tenants.
Loud parties late at night, drug dealing, vandalism, & break-ins.
Your neighbors will be so pissed at you that they will take great pleasure in the systematic destruction of your own property.
As your yard grows up in weeds and the back yard fills with junk cars, and the siding is stripped off and the windows are broken, and copper fixtures stolen.
You will begin to discover the true benefits of being a section-8 landlord.
Best of luck to you.
Sounds Great.
Your neighbors will appreciate the downward spiral the neighborhood takes after you introduce section-8 tenants.
Loud parties late at night, drug dealing, vandalism, & break-ins.
Your neighbors will be so pissed at you that they will take great pleasure in the systematic destruction of your own property.
As your yard grows up in weeds and the back yard fills with junk cars, and the siding is stripped off and the windows are broken, and copper fixtures stolen.
You will begin to discover the true benefits of being a section-8 landlord.
Best of luck to you.
You're stereotyping low-income people. If landlords do better screening it will work.
It all depends on the section 8 tenants that you allow in and the areas that properties are located. If you do a complete rental and background check then the chances of you getting a bad section 8 tenant are slim to none. However, its not only the section 8 tenants that ruin properties there are market tenants that do the same.
I totally agree with DevionisDream. You have to do complete screenings.
Section 8 is a perversion of the market place.
In every neighborhood where section 8 gets a foothold
It ruins property values for all homes in the neighborhood, and artificially inflates rental costs.
Making it difficult for renters who are not in section 8 to afford the area.
It removes the market driven aspect of rental rates because the Taxpayer is paying the lions share of the rent. This causes rents to continue to increase while at the same time the condition of the property and desirability of the neighborhood decreases.
When Owners start renting their homes to section 8 tenants it may seam like a good idea at first due to the higher rents they can charge and the guaranteed rent aspect. But Owners beware. You will ultimately loose equity as your neighborhood deteriorates and the resale values plummet.
I had good friends who rented to section 8 tenants exclusively.
There were no college grads in this population.
No classy poor people.
in my experience class does equal money.
Here is why
To earn money is to have an idea of its value.
With that recognition of value comes respect.
respect for self. respect for others who have achieved some results.
with respect for self and others comes class.
On the flip side
Handouts only teach the value of need.
Handouts are given to those who can express their need the best.
The whiners and complainers go to the front of the dole line.
The pushy and insistent among them go to the very front.
And there is nothing classy about someone who has learned to get through life by excelling at being whiny, complaining, pushy, and insistent.
Section 8/Voucher requires more landlord effort and time... at least in my experience over the last 30 years.
Also, the program continues to evolve and most of the changes have affected Landlords negatively.
The biggest change, in my opinion, is when the program opted out of damage/security deposits...
It is unrealistic to expect a family paying 10-20% of the rent to also have the money for a security deposit...
The second change is portability... at one time, assisted tenants would stay long term... with out of district portability... I know some that move every couple of years.
I have some Section 8 tenants going back to the late 80's... since the program changed, I have not accepted any new applicants since 2005.
On average, the non-section 8 tenants much easier to work with... of course there are exceptions on both sides.
Looking back at evictions... most, about 80%, were Section 8... luckily, it is not something that happens frequently.
Accepting tenants with Housing Authority/Section 8 vouchers is definitely a way to generate steady monthly income. It is guaranteed money paid by the government the first of each month to home owners that participate in the program. There is a small process to get things in line as far as inspections etc...well worth the time!
That's the funniest thing I've read all day!
Do you have any idea what a very high percentage of sec 8ers are like?
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