to go section 8 or not to go section 8? MOCO Maryland

Germantown, MD · Member since 2014 · 8 posts · 1 vote

I am down to one property, vacant, and ready to rent, but traffic has been slow. I have a person interested but is asking if I accept vouchers for section 8.

I am hesitant to go down that road for fear of losing equity down the line or having more bad tenants. Are my fears justified?

What are your experiences with section 8 tenants? Do you have any experience with section 8 in Montgomery County Maryland.

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Patti RobertsonBusiness Member

Property Manager · Virginia Beach, VA · Member since 2016 · 2k+ posts · 2k+ votes

@David Gauthier - Don't be scared. Most people's perceptions are because they don't participate or don't participate wisely. I wrote a blog on the subject of SEC 8. Here's the link if you want to check it out. https://www.biggerpockets.com/blogs/9232/55313-intro-to-section-8---your-perceptions-vs-my-realities

757-472-2547

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Russell BrazilBusiness Member
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Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
9y
Source of income is a protected fair housing class in Montgomery County. You absolutely can not consider the fact that they are section 8 in your screening process.
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Patti RobertsonBusiness Member
Property Manager · Virginia Beach, VA · Member since 2016 · 2k+ posts · 2k+ votes
9y
@David Gauthier - Don't be scared. Most people's perceptions are because they don't participate or don't participate wisely. I wrote a blog on the subject of SEC 8. Here's the link if you want to check it out. https://www.biggerpockets.com/blogs/9232/55313-intro-to-section-8---your-perceptions-vs-my-realities
757-472-2547
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Thomas S.
Member since 2016 · 13k+ posts · 12k+ votes
9y
"Are my fears justified?"
Yes they are justified. If you decide to rent to section 8 it will lower the class of your property. If it is a multi unit do not mix section 8 with non section 8 tenants. You will risk losing higher quality tenants. If you go section 8 make sure you set the same screening standards as for any tenant.
Maintenance costs will be higher due to the government standards and management will be more hands on. You often find you rent to one and the next thing you know you have all there welfare children moving in with them, as well as dogs and other friends and relatives.
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Account Closed
Rental Property Investor · Portland, OR · Member since 2015 · 338 posts · 332 votes
9y
I inherited a Section 8 tenant. It was just supposed to be a grandmother and her granddaughter but it turned out that her adult daughter was also living in the basement. After I told the tenant that I was planning on adding an egress window in the basement, thus making a two bedroom into a three-bedroom apartment, the tenant gave her notice and moved out.
A 3 bedroom would have increased her rent, and she knew this.
After they moved out, all 4 of my tires were slashed. Twice. They knew where I lived because I was their neighbor in the duplex.
You can't discriminate based on source of income, but you can require a monthly income of rent amount plus, say, $1000 and a credit score of 700. If you do this, you must be consistent with all tenants.
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