Inheriting a section 8 tenant

[Trevor K.]

I am closing on a four unit soon, and one of the tenants is on section 8. I am unfamiliar with the program, and will not be renewing when their lease is up in November. Of course I will have to abide by the current lease, and agreements. Which is fine, but is there anything I will have to do with the county housing authority in the meantime?

Anybody that has inherited a section 8 tenant please tell me about your experience.

[Annette Hibbler]

Section 8 tenants are the ones you want to HOLD ON TO. It's the nearest thing to guaranteed rent. When you have a Section 8 tenant on the east cost, your lease is with the Housing Authority, not the actual tenant.

They have yearly inspections so be prepared for that. The one thing they will likely point out during inspection is chipped paint. They don't like that but it's an easy fix.

The reason behind this is cause it prevents the tenant from messing up your property, keeping them in check. The last thing a Section 8 tenant wants to do is piss off their representative and end up kicked out of the program.

So long as you maintain your property well, you won't have a problem.

Ignorance can be costly. Call the Section 8 (Housing authority) in your area and talk to a representative. Tell them who you are and find out all you can from them. I have several section 8 tenants and they are relatively hassle free.

So long as come along side the housing department and get buddy, buddy with them, you can totally use this to your advantage. Also, I go through a lot of inventory in Michigan area and I can tell you that turnkey properties who have a Section 8 tenant actually command higher market prices. They are an asset!