Has anyone had success with Section 8 in Tampa?

Question

Hi,

Quick question for landlords in Tampa area. Have any of you had success with section 8? We have done section 8 in a couple of markets and been happy with it, but the Tampa Housing Authority has been very hard to get a ahold of and I can't seem to figure out how to even enroll my homes in the program. Is it worth the hassle down here?

Thanks !

Mick Pristas · Answer

I just placed my 1st section 8 tenet in West Tampa. Easiest way to find tenets is affordablehousing.com, Once I got my property on there it rented within a week, it was previously on the market for 2 months

Josh Green · Answer

There's a VERY specific recipe for success in today's market for section 8.  Cash position needs to be around low $100k and I can get you a turnkey property that cash flows with property management in place as well.  There's only a couple of these that pop up per month though so if that fits your criteria DM me as I don't post on here the buy box.

David Garcia · Answer

Hello Taylor,

I currently work with THA and have had a great experience with them. I have four doors that are rented to section 8 tenants. As long as you screen the tenants as best as you can to ensure they are the right fit for your property, you should have a great experience with them as well. I work with a woman who works for a non profit org that helps place section 8 tenants into properties. There are also quit a few orgs that help the tenants with their move in deposit if they do not have funds for the deposit. Feel free to reach out, Id be happy to talk with you.

Marylyn Patankar · Answer

Section 8 can definitely be a hassle in Tampa! It often takes months to get your properties posted, and getting in touch with the Tampa Housing Authority is embarrassingly difficult. We’ve experienced situations where investors came to us from other property managers or when properties changed ownership, and it took about three months to get the funds dispersed into the right accounts.

That said, it can be worth the hassle! If you're looking to make it easier on yourself, consider hiring a property manager. They can handle the complexities for you. Plus, if you’re using Section 8, you’re likely listing your property above market rent due to the allocated vouchers. It really can be the best of both worlds—remaining a passive investor while still getting the ROI you want!

James Wise · Answer

Section 8 is a great way to mitigate your risks if you have properties in super low income high crime areas. If you have properties in low crime areas with higher incomes, Section 8 becomes a way more risky alternative for you.

Jorge Vazquez · Answer

I have worked with Section 8 housing in Tampa for the past 20 years. This market has its ups and downs. While some investors have experienced significant success, others have faced substantial losses. The key to navigating this market successfully is to stay vigilant and committed to this niche for the long term. Doing so can maximize your chances of achieving consistent and profitable results. Manage more than 300 in the area. Call me to chat!

Has anyone had success with Section 8 in Tampa?

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