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even if you rent it for less than the mortgage, do NOT do section 8. the damages would be unbelievable and there is NO recouping them from the housing authority. Section 8 may have been a viable option at one time, but now people can get away with almost totally destroying the proerty and they are not held responsible for it.
DO NOT DO SECTION 8. Did I make that clear? I've been there, done that, and learned an expensive lesson.
Just to add food for thought...
There is an effort to make individuals receiving government assistance a protected class making discrimination illegal...
Will it happen... who knows. Can it happen... not much surprises me anymore.
even if you rent it for less than the mortgage, do NOT do section 8. the damages would be unbelievable and there is NO recouping them from the housing authority. Section 8 may have been a viable option at one time, but now people can get away with almost totally destroying the proerty and they are not held responsible for it.
DO NOT DO SECTION 8. Did I make that clear? I've been there, done that, and learned an expensive lesson.
You are clear!!! Thanks....not that I was thinking about it, but I got many emails if I would rent my house in a resort style living, for section 8. I don't get it since there are communities that are nice and have way cheaper rentals....why don't they go there and why is the government even allowing these section 8 voucher holders to rent a house in a community that is more expensive due to all the ammentities?
If they can pay for the amount on top of their voucher...they must have more money than the tell the government.
If a voucher is for example $ 700.- and they have to pay $ 1450.- and can affort it, than IMO they shouldn't get a voucher and pay rent for a $ 750.- home by them self...or am I so wrong about that...this sound like a bailout...
There is an effort to make individuals receiving government assistance a protected class making discrimination illegal...
Will it happen... who knows. Can it happen... not much surprises me anymore.
Would not surprise me these days. I can tell you if it became mandatory not to "discriminate" against .gov assistance people, I'd sure be finding a reason not to have to rent to them. I bet they don't have the greatest credit score or possibly even job history. If things are mandated to the degree where those things don't matter trust me I'd be one of the first to start selling off my properties.
Why is Section 8 even being considered? You can't rent the place out otherwise? Are you having trouble finding qualified renters?
I know where I am both sales and rentals have slowed. Have you considered some sort of renting incentive? Like first month free/discounted rent/utilities?
If a voucher is for example $ 700.- and they have to pay $ 1450.- and can affort it, than IMO they shouldn't get a voucher and pay rent for a $ 750.- home by them self...or am I so wrong about that...this sound like a bailout...
For your own protection, for any Landlord considering participating in Rent Rent Subsidy programs, please do not accept any money "Under the table"
On occasion, perspective Section 8 tenants will approach me regarding a higher priced rental and offer to pay me the difference in cash....
Don't Do It!!! As a Landlord you have much more to loose than the Tenant... It's just not worth it and leaves you wide open to all kinds of abuse and threats.
All monies collected must be done with the knowledge of the Housing Authority.
Last edited by Ultrarunner; 01-06-2009 at 02:53 PM..
Reason: typo
There is an effort to make individuals receiving government assistance a protected class making discrimination illegal...
Will it happen... who knows. Can it happen... not much surprises me anymore.
Easy to get around that. Just have one small thing "wrong" enough with your property that section 8 won't approve it, and fix it as soon as you have actual tenants.
Thanks for all the opinions. In a perfect world, I would love not to rent to certain people. But I was just trying to weigh all my options. I have put an ad in craiglist, have an ad coming out next week in the local rag, have to show it to two people tonight and yes I am doing a credit check and reference check.
But it seems like tenants want it all for nothing. There is no way I will put in free utilities ; the heat would be blasting at 80 all the time and I would be paying a fortune for heat. It is a single family home.
On the subject of discrimination ; If a person has good credit, good employment etc, there is no way I will discriminate.
Regarding craigslist, I know this might sound discriminatory but I found my best off of craigslist. The way I sort of see it is that they
1. can use a computer
2. have access to one with internet
3. can possibly afford internet
I have also had a lot of "classier" tenant inquiries from craigslist, facebook and myspace. Now I'm kind of a newbie landlord so maybe I should not make an assumption like this, but it's just been my observation.
Regarding craigslist, I know this might sound discriminatory but I found my best off of craigslist. The way I sort of see it is that they
1. can use a computer
2. have access to one with internet
3. can possibly afford internet
I have also had a lot of "classier" tenant inquiries from craigslist, facebook and myspace. Now I'm kind of a newbie landlord so maybe I should not make an assumption like this, but it's just been my observation.
My best tenant was also from craigslist. She was clean, prompt with payment and never gave an ounce of trouble.
you guy's are discrimating against all section 8 holders and thats wrong! I hold a section 8 voucher and that dont make me any different then someone who don't have one. it's people like you that makes it hard for us to find a decent apartment! section 8 is not a disease it's a way to help us pay rent so we dont end up in the streets. one bad experience does'nt mean all will be.
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section 8
