Tenant Cloud manually add rent from section 8 ?

Question

I am currently looking at using Tenant Cloud for a duplex.  One tenant is section 8 and the other is not.  This will be my first section 8 tenant as well as my first time collecting rent through Tenant Cloud.  It seems that I will receive the majority of the rent through direct deposit from the section 8 housing authority.  Is it easy to manually add the rental income on the app and will it sync in order to show the overall financial reports for the property? Thanks for the help!

Brandon Rush · Answer

Hey Michael,

Funny thing, I am in the same situation as you. I previously had a section 8 tenant but their rent was fully covered so it was easy to invoice them via tenant cloud. With my new section 8 tenant, I am still invoicing the tenant for the full rent amount but I am allowing for partial payments. This will allow for the tenant to pay their portion and when the money comes from section 8, I will take it off their balance and zero out their account for the month.

I hope that makes sense. If you need further clarification, please let me know. I am a big fan of tenant cloud!

Brandon Rush · Answer

Sure does, its a great application. I put notes in to specify the section 8 payments so they are distinguishable in the reports. Let me know if you have other questions.

Nick Sanders · Answer

@Jennifer Donley,

Thanks for the input, I like your suggestion and think I will make that modification for these two different tenants as they are the first I have on section 8 and they have only been in place for 5mnths and 3mnths so not to far along to make a change. Thanks

Jennifer Donley · Answer

@Nick Sanders and @Michael Pirrello and @Brandon Rush - jumping in to offer a suggestion.  I don't use Tenant Cloud, I use RentecDirect but something I would recommend for your Section 8 tenants - enter them into your PM software as if they are 2 completely different tenants responsible for their own rent and not responsible for the other.

In Rentec, when I add a new tenant to a property where there is already a tenant in place, I can choose whether to group them together or separately.  I choose separate and then their ledgers are not intertwined. If your software doesn't offer that option, I would create 2 properties and call one 123 Main Street and the other 123 Main Street Section 8.

This reduces a ton of issues - your tenant wont' get confused on why they're getting notifications or whatever for the Section 8 portion; if the tenant is late on rent, you can automate late charges for them alone; if there are any bill backs (utilities, damages, etc.), the tenant only sees those; and the ledgers are much, much cleaner this way.  An intertwined ledger can get extremely messy, especially when the tenant and Section 8 portions are similar or when the tenant makes late and/or partial payments on their portion.  It starts to take a detective to figure out when the problems started and whose fault it was.

Nick Sanders · Answer

@Michael Pirrello

Yes it does allow it in the reporting and it also allows you to post the moneys you get from the tenant or from the housing authority. I have been using it for about 3-4 years and it works well for me. I only have 2 section 8 tenants, they make their portion of the payment and housing authority deposits the rest and we post the deposit to the account internally.

Michael Pirrello · Answer

Thanks Brandon for the response. That's great to hear that you like tenant cloud and it seems to be working seamlessly with partial payments. Does it also offer a cash flow or income expense summary when manually inputting rents like you do?

Tenant Cloud manually add rent from section 8 ?

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