Do your lease out to section 8 tenants?

Asked by Darlene M Smith, Dover Del Thu Oct 18, 2007

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7
Infinity Rea…, , Saratoga, CA
Thu Oct 18, 2007
I know numerous investors that actually prefer to rent to section 8 tenants. Although it is personal preference, if you need to rent and there willing then i say go for it.
1 vote
Tom Davis, , Dover, DE
Thu Mar 12, 2009
Jim and Iris both summed it up nicely for you. I think it makes business sense but that will be your decision.
0 votes
Iris Mccarthy, , Wilmington, DE
Tue May 13, 2008
Actually, many landlords are changing their once-negative views of Section 8 and starting to get their properties approved because Section 8 offers one thing that "regular" renting doesn't---GUARANTEED payment of rent! With Section 8, a landlord doesn't have to worry about late payments and/or bounced checks! Hope this helps...
0 votes
Denise Sexton, Agent, Dover, DE
Thu May 8, 2008
None of my landlords are interested in renting to Section 8 tenants because of the reputation Section 8 has. I did some inquiring into the Section 8 program to educate my landlords about this program. I had met a mother with 2 children who I thought deserved a chance. To no avail was all my research. Most properties I manage are in too high of a bracket to be qualified for Section 8, and the landlords just don't want to agree to it.
0 votes
Jim Walker, Agent, Carmichael, CA
Sat Oct 20, 2007
Richard, you offered no useful insight on that one.

Now I'm going to commit the same offense and stereotype landlords in general.. Landlords tend to complain about the problems they have with all of their tenants. It is what they do. Especially when they are also grandparents. By definition, section *8 tenants are poor.
By definition, landlords are wealthier than section 8 tenants.

It is the tendency of many of us who are luckier than the poor to convince ourselves that our higher living standards are due to our own industriousness and admirable character rather than good fortune and circumstance.

But to answer Darlene's question: It is a very sensible business decision to lease out to Section 8* tenants.
You are much more likely to receive a rent check from the housing authority every month of the year than you will from an unsubsidized renter. (By the way - you will receive the market rate on section 8 leases)

The housing authority generally pays based on the number of bedrooms, not on the value of the rental property. So I would not put a luxury home with a swimming pool and tennis courts into the program.
I would put safe and clean standard apartments or houses into the program as long as the section 8 rate was close to or higher than I could charge unsubsidized tenants.
0 votes
Richard M. J…, , Sherman Oaks, CA
Fri Oct 19, 2007
Hi Darlene, back in the 80's my family owned several rental properties. Though I was very young, I can still remember how much my mother/grandfather complaint about the problems they had with section 8 tenants. Good luck.
0 votes
Raquel Zapata, Agent, Tampa, FL
Thu Oct 18, 2007
Its a guaranteed check. So why not????

Raquel Zapata-Gonzalez
Licensed Real Estate Consultant
Cell: 813-294-7264
Fax: 813-655-1878
E-mail: rzapata@tampabay.rr.com
http://www.MajesticHomeRealty.com
0 votes
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