Out of State Section 8 request

[Latonya Iskan]

Hello Bigger Pockets!

We have finally gotten our first rental in Richmond, VA. However, our property has not rented yet. It's located in an "up and coming" area, where you can see signs of renovations etc. We decided to open up our pool of tenants to the voucher because many applicants have asked. We are new this process. We just got a request asking if we accepted out-of-state Section 8 vouchers. I thought I'd reach out to the BP community first before I respond with a yes or no.

What are pros and cons of accepting out-of-state  Section 8 vouchers. 

Thanks!

[Simon Ashbaugh]

Hey Latonya, accepting out of state vouchers can increase your tenant pool and potentially increase your rental income, but it also introduces complexities like verifying voucher validity with distant agencies, dealing with unfamiliar local resources for the tenant and navigating potentially different eviction procedures in another state. I'd recommend that you weigh the potential benefits against the additional workload and potential difficulties that comes along your way.

[Latonya Iskan]

Quote from @Simon Ashbaugh:

Hey Latonya, accepting out of state vouchers can increase your tenant pool and potentially increase your rental income, but it also introduces complexities like verifying voucher validity with distant agencies, dealing with unfamiliar local resources for the tenant and navigating potentially different eviction procedures in another state. I'd recommend that you weigh the potential benefits against the additional workload and potential difficulties that comes along your way.

Thank you Simon for your input! Since we haven't even gone through any Section 8 processes yet, it's best I believe to keep it simple, and stay local.

[Simon Ashbaugh]

Quote from @Latonya Iskan:

Quote from @Simon Ashbaugh:

Hey Latonya, accepting out of state vouchers can increase your tenant pool and potentially increase your rental income, but it also introduces complexities like verifying voucher validity with distant agencies, dealing with unfamiliar local resources for the tenant and navigating potentially different eviction procedures in another state. I'd recommend that you weigh the potential benefits against the additional workload and potential difficulties that comes along your way.

Thank you Simon for your input! Since we haven't even gone through any Section 8 processes yet, it's best I believe to keep it simple, and stay local.

You're welcome! I hope you get a tenant in as soon as possible. All the best!

[Tanner Lewis]

Hey Latonya, I am from Richmond, Virginia, and know the area well. I'd be happy to connect as I am looking to flip in Old Manchester and a couple of other areas. 

[Latonya Iskan]

Quote from @Tanner Lewis:

Hey Latonya, I am from Richmond, Virginia, and know the area well. I'd be happy to connect as I am looking to flip in Old Manchester and a couple of other areas. 

 Great to meet you as well. I am happy to connect as well! Thanks!!!

[Patti Robertson]

I do ALOT of SEC 8. The issue with someone porting into your area from someplace else is that they almost never have income when they move.  IF they have all retirement or disability income that may be OK, but if they are quitting a job to move and have to find another job after they move to your area, this means their income when they apply for your rental and SEC 8 determines if they will approve your rent with be zero. I don't accept any tenant with zero income, even SEC 8.  

[Latonya Iskan]

Thank you Patti for your response. I really appreciate your insight. I was definitely stuck on that question and I'm glad I posted. That helps for future tenants, if they ask.