Residential Real Estate Agent · Costa Mesa, CA · Member since 2008 · 1k+ posts · 380 votes
Not much Section 8 in OC, but I had a Section 8 potential applicant inquire about my rental. Need to know the basics of getting my property Section 8 approved, what Section 8 entails, etc.
Hoping Steve Babiakipedia will be able to provide some useful links, as my local board of Realtors and CAR both were able to tell me NOTHING about it.
In my area a tenant comes to the unit and if you decide to rent to them you fill out a lease that sec 8 provides or your own. The tenant brings it to their caseworker. They then mail you a date that they will come out and inspect your unit. Once it passed inspection they can move in and they send you the check directly. The inspection is no big deal as long as the unit is in decent condition.
In my area a tenant comes to the unit and if you decide to rent to them you fill out a lease that sec 8 provides or your own. The tenant brings it to their caseworker. They then mail you a date that they will come out and inspect your unit. Once it passed inspection they can move in and they send you the check directly. The inspection is no big deal as long as the unit is in decent condition.
in my area, the inspection process can take up to 45 days, and the inspectors almost always find some little item they want you to fix, so they have to reschedule and come back again in a few weeks..this all while your apartment sits vacant
Here it takes about 7 days and whatever they find wrong (and they will find something) they will come back and reinspect in a few days. Guess it really depends on which area you are in how long it takes.
Michael got it. Just go to the local Housing Authority or Section 8 Administrator. They will give you the low down. If your units are compliant with codes the inspection is no big deal, just make sure it's clean and safe. As mentioned you may use your contract, but they will need to approve it. Just a heads up- Section 8 does not allow any sale arrangement whereby any rent is applied toward a purchase price. It's a good program if your adminstrator is an efficient office.
I would be interested in hearing from anyone in the Houston market who is running any Sec. 8 rentals. I am looking to see how viable it is in this market. I hear stories all over the place and wanted to try and get a local feel.
Lots of opinions and ideas on Section 8 --- we do a lot of it in Mobile, AL --- it's actually seems to be the preferred investment method here.
How did most of you get your start in Section 8?
How did you first learn? Through friends? Online?
Are there any great resources out there?
If so, what are they?