Updated over 5 years ago on . Most recent reply
Atlanta landlords required to accept section 8 tenants
So, I understand that Atlanta city council approved this new legislation, that section 8 tenants are now included in the protected class and can not get turned down.
Looks to me that this might increase the problem, that they're trying to solve. This is what I see:
- Many landlords of single family homes, once current tenants leave, will rather renovate and sell to owner-occupants than jumping through all of the hoops that section 8 requires. That will eliminate those homes from the rental pool, which then lowers the supply and likely will raise rents further.
- It may take a long time to get approved by HUD and may need $ thousands in upgrades to come up to HUDs requirements for some properties. No rental income during that time.
- Landlords may increase rents to avoid having to turn down section 8 renters, because they might not be looking at higher rates
Will it really solve the problem? If a voucher holder were to call me today and asked, if I accepted vouchers - if I said that I certainly would, but that the property is not currently approved and it may take months to get that approval - would they stick around? Just saying.......
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From what I've gathered from a Facebook page I'm on, I think that what the rule actually is regarding is that landlords must consider housing vouchers in their income requirements. I haven't read the actual rule yet since I don't own any property in the City of Atlanta but I'm pretty sure that most voucher holders wouldn't meet our rental criteria anyway. If this were to go statewide, I'll be selling off our portfolio and investing elsewhere. I think a statewide rollout is highly unlikely as the political make up of Atlanta is very different than the rest of this state.