So I'm looking at a property building with 14 units 7 2b/1b and 7 1b/1b, 12 units currently rented and 5 out of those have section 8 tenants, after reading some articles I see there are pros and cons.
if i were to decide i dont want section 8, how can i go about it?
I was thinking of asking one by one giving notice to leave, and to the next one after that unit is rented by someone else.
but i read some where that i can not have some and not others, it will be consider discrimination.
what suggestion or options do you guys have?
@David Silva I would suggest asking for all of the leases that the tenants hold. This way you can plan on not renewing when the lease is up and sending the appropriate notice ahead of time.
@Steve DellaPelle yeah i was thinking of something along those lines. 4 of those are month to month and 1 expires in jan 2018
@David Silva With that said...I would also take the time to screen these tenants a little more and see which are 'good' vs. which are 'bad' just like any other tenant.
Section 8 can be a pain in the neck to deal with (I have one tenant on section 8 myself) but in the end you get direct deposit into your account and the difference (a small amount) is usually covered by the tenant. Not a bad way to start a month!
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing