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Old 06-10-2015, 02:53 AM
 
Location: Moku Nui, Hawaii
11,048 posts, read 23,950,049 times
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Well, we've just started advertising a rental house which will be available to be rented in a week or two. We've gotten loads of responses on the advertisement, but many of them are for Section 8 prospective renters. What's the upsides and downsides of renting to Section 8 tenants?

It's a 3/2 in a small town in Hawaii, are there any special requirements for the Section 8 people? One bedroom per person or anything? Does the amount of their voucher indicate the number of people in their household or anything?

So far we've just sort of said "no" to renting to the Section 8 folks, mostly because we don't know anything about renting to folks with Section 8 vouchers. As a landlord, what should we know? Anything we should watch out for?
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Old 06-10-2015, 07:14 AM
 
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Surprised it didn't come up as you typed this post, but search section 8 in this forum, numerous threads on this exact question.
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Old 06-10-2015, 07:25 AM
 
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The big plus is you know your rent will be direct deposited into your account on time every month. In my experience I have found that S8 allowable rent is slightly below market rate. I had an available rental and to rent to a S8er I would have had to decrease the rent by about $400 to accommodate their voucher amount.

Other than that S8ers are just like any other tenants. It is the LLs responsibility to make sure that they pass your background, credit checks, etc. Once you accept a S8er the county will come and inspect your property for safety/living conditions and you will have to make repairs if needed before tenant moves in and that might be a hassle for LLs. Plus it could take up to 60 days before the tenant moves in which could cost you rental income if you have a non-S8 tenant who can move in sooner.

Check with your county housing office and see if they offer a "LL class" which is an orientation for LL to familiarize you with the program.
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Old 06-10-2015, 08:19 AM
 
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There is a lot of information on this forum from people who have rented to Section 8 tenants (and people who were trying to get them out of the neighborhood), so just do a search. Generally it's a good program to help those who need rental assistance and after the market crash there may have been a shift in the demographic of the typical Section 8 tenant. There is more oversight due to the government involvement than you may normally have with other renters, but you do get the rent on time every month. What most people worry about are the social issues that come along with providing housing to people who are very low income. However, if you're renting in an area that is lower income anyway where most applicants are using Section 8 then those type of issues may be unavoidable. Would you be able to find a building that already rents to them and speak with the LL there? Location may play a role here.

All tenants are a gamble, just make sure you do your homework, make sure their background check is clean and trust your gut. If they seem shady, don't rent to them. It's an unfortunate reality but I would wager a guess that most LLs who have rented to Section 8 tenants in the past would not do it again.
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Old 06-10-2015, 09:53 AM
 
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Don't rent to them. If something breaks at the property and they tell the city and etc the rent won't be paid to you until it's fixed from what I read online from a few people. Also have to wait to have your property inspected to make sure it complies with all their rules and safety regulations etc gotta wait a while before tenant can move in. And these people do nothing but sit on their ass, they do not care about the house/property whatsoever. Stay away from them end of story.
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Old 06-10-2015, 10:00 AM
 
16,715 posts, read 19,358,105 times
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Quote:
Originally Posted by hotzcatz View Post
Well, we've just started advertising a rental house which will be available to be rented in a week or two. We've gotten loads of responses on the advertisement, but many of them are for Section 8 prospective renters. What's the upsides and downsides of renting to Section 8 tenants?

It's a 3/2 in a small town in Hawaii, are there any special requirements for the Section 8 people? One bedroom per person or anything? Does the amount of their voucher indicate the number of people in their household or anything?

So far we've just sort of said "no" to renting to the Section 8 folks, mostly because we don't know anything about renting to folks with Section 8 vouchers. As a landlord, what should we know? Anything we should watch out for?
There are NO upsides in my opinion.

While you are guaranteed that rent from the government, the tenants don't care one lick about the property and any money you think you might be making is gone when they move out, because you will have to do some major work to your rental after they've gone.

Just no.
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Old 06-10-2015, 01:07 PM
 
Location: Moku Nui, Hawaii
11,048 posts, read 23,950,049 times
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Thanks Momtothree, I'll go do a search. I looked through titles for a bit and nothing popped up right away so it was easier to ask. Also asking brings up any new data on the subject, should there have been anything new since the last discussion on the subject.

Our initial response has been "no" to the Section 8 folks and it looks like that will continue.

The home is not in a low income neighborhood, it's a quiet established family neighborhood and we don't want to disrupt the neighbors. It's never been a rental before, it was the house we were living in. We'd not have moved out except the house we bought to be a rental wasn't in good enough shape so we've moved over to that one to work on it while living in it. The two houses are similar in size and the new one has a much larger lot and is within walking distance to our small main street so that's good. However, it's on a hillside and our previous house (the one being rented) is on a level lot with only two steps into it. Once we get the new one in good condition, we probably will continue to live in it, though, so the renters of our first house won't have to move out.

I guess we're searching for that elusive great renter who pays their rent on time and stays there for a decade or so. From what folks have said, the Section 8 folks aren't likely to be that renter?
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Old 06-10-2015, 01:14 PM
 
16,715 posts, read 19,358,105 times
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Quote:
Originally Posted by hotzcatz View Post
The home is not in a low income neighborhood, it's a quiet established family neighborhood and we don't want to disrupt the neighbors.

I guess we're searching for that elusive great renter who pays their rent on time and stays there for a decade or so. From what folks have said, the Section 8 folks aren't likely to be that renter?
You certainly won't keep any friends if you do this to your neighbors.

People who have jobs and cars and can afford the rent on their own is what you want. Not someone who can't pay their own rent; they have no dog in the hunt.
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Old 06-10-2015, 01:37 PM
 
16,235 posts, read 25,150,354 times
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I did a search of this renting forum, using "section 8" quite a few threads came up....that should help you decide. I have to say, I have seen many, many threads complaining about renting to people who are on subsidized housing, and there have been lots of horror stories, including how hard it was to get them evicted even when they were destroying the home...
There are always exceptions, not everyone would destroy or not take care of your home...

Have you thought of asking your neighbors if they know anyone that is looking for a home to rent, someone they could refer...co-worker, friend, relative etc.......oftentimes word of mouth is a good thing.
Here is the link to my search....//www.city-data.com/forum/searc...rchid=18028453
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Old 06-10-2015, 01:47 PM
 
16,235 posts, read 25,150,354 times
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I found a link to someone asking the same question last year....//www.city-data.com/forum/renti...8-tenants.html
Very interesting comments...
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