Why Section 8 is the Finest Thing Since Sliced Bread

I love section 8 housing. I don’t understand individuals who do not. I think landlords that really do not jump at the idea of renting their house to a section 8 tenant are the exact same individuals who refuse to pay a quarter to go in the express lane, or leave plastic covers on their furniture. It just doesn’t make sense.
Section 8 tenants are wonderful for many reasons. The very first one is that the government is by no means late. The tenants usually pay a few hundred dollars for their rent, and also the housing office pays the rest. Tenants have a lot simpler time paying a couple of hundred each and every month, as opposed to a full month of rent.
An additional reason I hear my investors, who have in no way really had a section 8 tenant, give me for not working with the program is that section 8 tenants are supposedly the bottom on the barrel for tenants. They all give me the same line about not wanting the tenants to tear their newly rehabbed foreclosure apart. I strongly disagree. These tenants have a strong incentive to not damage the house in any way – a great deal a lot more than regular tenants. If they screw up once, they're out on the application. They also normally need to have a job and go via an application procedure to stay in to plan, which is yet another level of screening already built into the plan.
Tenants with assisted housing are also not picky – and they commonly really don't care about the price. Housing vouchers also normally are good for men and women with rental property in rougher areas – where the majority of foreclosures are. Let’s say you bought a short sale or an REO, fixed it up, and estimated that you could rent it out for $1000 per month. Quite frequently in my experience, I’ll put out some signs advertising the property, will get a couple of tenants who are willing to pay the $1000, and then will have a tenant show up with a section 8 voucher that pays over $1200. It’s no difference to the tenant how much I’m asking for the place, as long as their voucher covers it. It’s not exactly a difficult decision to pick a tenant at that point.
I believe I’ve barely begun to cover the benefits from the section 8 system. In my next entry, I will outline the couple of easy steps it takes to have your house to pass inspection.

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