what is the process to get a property section 8 approved?

Question

Hello I am still new to the investing world, so any advice would be helpful.

I'm considering a purchase to use as section 8 rentals. It does not already have voucher in place. What is the process to get section 8 rentals approved?

Any cautions or red flags I need to watch out for?

Does this also work with duplexes?

Do you feel this would be a good way to rent properties?

Thank you very much!

Dumitru Anton · Answer

Section 8/HUD-VASH (section 8 for veterans) is a Federal program, but is very "local" in administration/implementation.

Like others said, you want to qualify the tenant as any other tenant. you are looking for long-term.

check gosection8 for your market.

hud/hcv may have the FMR (fair market value) for your zipcode/number of bedrooms. (google search)

understand you CANNOT ask extra rent beside the approved amount, and sometimes the voucher may include utilities which means the $1,400 on the voucher may be 250 for utilities and 1,150 for tenant portion + hud.

also depending on tenants changing financials and family changes, the % amount paid by hud and tenant may change over time.

i would give a call to local office and also find fellow landlords in the area already working with section8 to network with.

you want nice,clean, durable but not very base level. section 8 tenants usually have choices so DO NOT BE A SLUMLORD.

you are a nice professional provider of quality home solutions for nice tenants!

good luck!

Ned Carey · Answer

@Andrew Nelsonwhat @Gail Kaitschuck said is true in Baltimore also. A property does not get inspected until an applicant has selected your property. Then you get an inspection. Then you sign a lease and negotiate a rent amount.

While section 8 is a federal program it is administered at the local level so different areas have slightly different rules. Some areas actually pay above market rent, some pay below.

Gail K. · Answer

In my neck of the woods (Richmond county Georgia) one has to have an applicant with a voucher interested in the place first before the initial inspection will be scheduled. Around here that is often a six to eight week wait since these inspectors are also doing yearly inspections on approved rentals.

Call your local Housing Authority and ask about the inspection schedule.

Gail

Call your local Housing Authority and ask about the inspection schedule.

Gail

Les Jean-Pierre · Answer

I live in NYC but they have to come out to your place and inspect it. You have to fill out some forms. Because I have an older building, it took more time but once you are in the system you are ok. Here you can get your payments from Section 8 direct deposits. Word of caution in that they do annual inspections that depending on the inspector can be ridiculous and you can't raise the rent that much.

Dumitru Anton · Answer

calling @Bradley Bogdan and @Marcia Maynard , our resident Section8 and HUD-VASH experts:

a search on BP would also reveal quite a lot....

Dumitru Anton · Answer

just remembered a few other stuff:

-the local HUD/section 8 may have classes for vendors/owners/landlords; may also have a website with all documents/criterias posted

-may have excellence programs

-inspection: will be more through if children, especially under 6 are in the house.

-inspection: you or a trusted handyman be there! a misunderstanding cost me one month of headaches for me, tenant and i have one abatement (hud not paying rent to owner because of list of repairs not taken care of) on my record. sometime the inspectors let you do small repairs/adjustments on the fly. understand that the vast majority of inspectors are not there to "get you": are there to make sure there is no danger/slumlording happening.

Andrew Nelson · Answer

Thank you everyone!

what is the process to get a property section 8 approved?

what is the process to get a property section 8 approved?

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