Section 8?

Question

I just closed on a fourplex and have a vacancy.  I did the standard new paint and flooring, but not the full remodel which it kind of needs.  After 1.5 weeks, the only bite I have is from a couple who are Section 8 through the Indian Tribe.  I've heard Section 8 is good for collecting your rent, but I wonder about the rifraf that comes with it.  I was hoping to improve the image of the building and wonder if taking them on as tenants may do the opposite.  I really don't mean to be stereotyping them, I've just never worked with section 8 before.  Any recommendations?

Account Closed · Answer

Thats because you are as Big as I am, They are afraid you will step on their throat.

lol     and my gun on my hip,  then some still don't want to pay, they find other bills to pay first and think that the sob story about their kids will have an affect on me

Michael Rossi · Answer

I have dozens of Section  8 tenants and dozens of non-Section 8 tenants.  In my experience, there is absolutely no difference between Section 8 and non-Section 8 tenants.  They both have an attention span of about 5 seconds.  They both make consistently bad decisions.
            
            I've had section 8 tenants that break their 1 year lease because they want to shack up with their latest boyfriend.  I've had section 8 tenants start doing drugs and get evicted.  I've had Section 8 tenants stop paying their $50 portion of the rent and be evicted.  Of course, the majority of both groups do fine.  In other words, they're the same.
            
            So, Todd, I certainly wouldn't be afraid to take Section 8 tenants, but just don't expect them to be better than any other tenant.
            
            Good Luck,
            
            Mike

Account Closed · Answer

I only deal with sec 8.  They have been better than non sec 8 tenants.  I don't care if I get holes in the walls.  a 4x8 sheet of drywall is $6 !!!

I feel better that the tenant will stay for at least 1 year and my money will come.  My sec 8 tenants have been cleaner than non sec  8.  The Sec list stays full,  it takes years sometimes for a sec 8 applicant to recieve those benefits.  They usually wouldn't want to mess it up.

Mike Matthews · Answer

Thats because you are as Big as I am, They are afraid you will step on their throat.

Hamp Gaston · Answer

Todd, I also have a section 8 tenant and so far I have not had any issues. As stated previously, screen them as you would any other tenant; I also put a provision in my lease agreement that I would perform monthly inspections on the property just to ensure that everything is being cared for and nothing major is being neglected. It is nice to receive a rent check like clockwork on the first of every month. Just make sure if you do accept a section 8 tenant that they can cover their portion of the rent (if they have to pay.)

Adair Smith · Answer

Screen your section 8 tenatants the same as your non section 8 ones.  Screen screen screen!!!   I personally have 2 section 8 rentals...they have been there for years and never miss a beat.  Also, go get a handbook so that you know what will or will not pass inspection in your area.

Todd Merry · Answer

Thanks for the feedback.  Sounds like it may not be as bad as I feared.

Mark Yuschak · Answer

I've dealt with tenants on state aid and have resulted in good experiences.

I wouldn't necessarily say that a Section 8 tenant is any better or worse than a regular tenant.  Every tenant has their downfalls.

In my opinion, getting the rent every month is definitely a perk.  Plus, you have the backing of their case worker in the event terms of the lease aren't being met.  You do have some leverage because the tenant fears loosing their voucher if they don't comply with the lease.  But, on the other hand, if you harp on them all the time, they'll leave as soon as their one year obligation is up.

I've found if you treat them just like any other tenant (with dignity and respect), you will have very minimal problems.