Lease option for a section 8 tenant

[Jeremy Harris]

I am in the chicago are suburbs and have a potenential tenant that has section 8. They are interested in a lease option (rent to own) on a single famIly home. From what I’m reading, it is difficult. Has anyone had any experience with this?

[Ronald Starusnak]

Why would you hold the mortgage for someone who can't even pay their own rent? the government is not going to pay their "rent", interest, and lease option principal. Not mention, most lease options have a deposit and if they can afford a deposit they should not be eligible for section 8. They can't pay their rent and they aren't eligible for a mortgage, don't put yourself in that kind of position. Rent to own is an excellent strategy but it's not for individuals in the situations your tenants are in.