Its a great program and when I got involved with it, I was surprised at how high the rental assistance is. I've had tenants getting as much as $2,000 and living in newer 3 level colonials. The subsides go even higher than $2k as it is based on each cities rental rates.
If you are looking for an investment property, the important thing to keep in mind is that the numbers should still work as a rental, regardless if its a section 8 tenant or otherwise. There are certain criteria to follow that will tell you if its a good investment or not. I'd be happy to tell you more about that if you'd like. You can call or email any time. Good luck.
You may wish to start here: http://www.fairfaxcounty.gov/dfs/
If you would like to speak in more detail please contact me via phone 703-946-4844.
Thanks for your inquiry.
Graduate Real Estate Institute
Long & Foster, Realtors
8227 Old Courthouse Road
Vienna, VA 22182
Cell: (703) 946-4844
Office: (703) 556-8600
NVRE is a local real estate company with great experience in helping 1st time home buyers and Investors, we have the knowledge and the patience and work hard to find the clients the property that fits their needs. I understand that you want investment property in Centerville that could be rented to Section 8 tenants.
The answer to your question is that this is a choice the landlord makes to accept section 8 tenants, but at our meeting you will find that you will have options or different ways to accomplish the same goal ...
Please give us a call or email to set an appointment; you have nothing to lose, but lots of information to gain.
Lori, as Chris stated, the issue is the landlord must "have a contract with the section 8 Program that sets up the direct deposit of rent..." there are a few other things involved with this contract also.
Do the math.
The numbers HAVE to work or you can become a broke landlord.
Support your data. You will find this to be a good investment strategy.
It is very likely you have recongnized the growing need.
You are about to come face to face with the challenges of decreasing inventory of homes available.
You will find it truly benefical to work very closely with, and commit to, a real estate professional.
Best of success to you,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL