Section 8/Housing Voucher Program Landlording Opinions

[Matthew Lindsey]

Hi, 

Recently I have been thinking about buying some properties strictly for Section 8/Housing Voucher Program tenants. It would fall into the Northern Region of Georgia according to the HAD. My questions are if any landlords in GA on here deal with section 8 and HAD. Im curious to know how Georgia's HAD is to deal with? Are they slow with approving your property and tenants? Are they actually offering to pay what it shows on the HUD FMR sheets or do they lowball you? Do multi family properties receive less rent than SFH when it comes to section 8 or do they look at them the same when finalizing a rent payout? Anything anyone can share with me would be appreciated.

Thanks

[Nicolas Biangel]

@Matthew Lindsey No worries. Allow me to answer the questions in order: 

1. They pay according to the contract (which has to be agreed upon by both HAD, landlord and accordance with market rent).  An example.  In the county I'm in they pay $884/month for a 3 bedroom. The rental contract states the rent to be at $1125.  HAD required the tenant to pay the difference.  Now, due to unforeseen circumstances the tenant lost her job.  An adjustment was made and now her portion is less than $100/month

2. Inspections: yes.  They are picky.  And they inspect the property once a year.  The yearly inspection is a double-edged sword.  If the tenant does not comply they can lose their voucher; but it also marks against you.  It marks against you because they see it as you didn't notify the tenant.  But the threat to the tenant makes them more cooperative for the inspection. 

3. Issues: depend on what the issues are. 

4. This answer will cover the rest of your post.  The reason for the yearly inspection is to make sure the tenant is keeping the property in good shape; or they risk losing their voucher.  And we have some rights in filing a complaint so long everything is documented. Section 8 has improved in placing responsibility on the tenants as well as the landlord.  So far, my property is still in good condition and I'm in my second year of renting out to her. 

One of the major downfalls I've experienced is that they're not quick to raise the rent. I'm still fighting them in trying to raise it. But overall, it's been a good experience.  In that area, I'm focusing on making it my Section 8 market.  There's a need/shortage.  So it's a nice niche to be a part of.