Section 8 tenants vs regular tenants
Hello, I live in northwest Ohio and I am currently looking to buy a house outside of town in the country. Rather than selling my current property I plan to rent it out to help cover some of what the mortgage will be on my new residence. The question I keep coming back to is do I try to get a section 8 renter in the home or open it to all regular tenants? Looking on the HUD FMR website online I will get $1,208 guaranteed by the government for my 3 bed 2 bath house. I also think I would get around the same amount renting to a non section 8 tenant. My question is if I am getting the same rent for both how should I determine which one should I choose? Have you guys had any issues that come up more with section 8 tenants? Or is it worth it to have the rent guaranteed to get paid? Who has taken better care of the properties in your experiences? Any and all advice is greatly appreciated!
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#4 All Forums Contributor
- Real Estate Broker
- Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH
Section 8 tenants are savages. That said, most all tenants in ghetto areas are savages. So if the property is in the ghetto, you're gonna get a savage regardless. So you wanna go with the savage who's actually gonna pay the rent. If the property is in a nicer area where you can attract higher quality tenants who will consistently pay, then you would want to go with a cash tenant.