Real Estate Professional · Schererville, IN · Member since 2017 · 36 posts · 4 votes
I just found a 4-unit property that is relatively in a decent area. When I asked my real estate agent about the financials, I noticed that 3 of the 4 units are under Section 8 yearly Contract.
Is there a way, in case I buy this property, to have it not to be part of the Section 8 program? If so how to go about implementing this?
Investor · Topeka, KS · Member since 2015 · 1k+ posts · 1k+ votes
7y
I think people get confused about Section 8. No property is "a part" of the program. There are people who receive government support through the section 8 program. You can chose to rent to these people or not. In this scenario just like any contract you will need to honor it.
Real Estate Professional · Schererville, IN · Member since 2017 · 36 posts · 4 votes
7y
To my knowledge the property owner should fill up an application form to be part of the section 8 program, then wait for a program inspector to approve the property.
Based on this what are the steps to follow, If I want out of the program officially.