Section 8 or not?

1 Reply

One of my best tenants is going through a divorce and has asked if I would accept housing assistance. She is on the waiting list. I was honest with her and told her that I haven't dealt with this before and that I would check into it.
The property she occupies is a 900 sq ft 2 bed 1 bath with a family room and a non- conforming "office" in the basement with a single attached garage and a large shed in a fenced backyard. Rent on that property is $800/month and positive cash flow of $ 340/month.
I don't want to go any lower on the rent.
I would like to here from other investors here in Lincoln about their experienced dealing with Lincoln Housing Authority good or bad?

I have two tenants on section 8. There is a little bit of paperwork and an inspection you will have to go through. The inspection isn't that big of deal you can go online and find a list of things they look for. After you go through that they will let you know what the fair market rent is for you property, which I think is based partly on how the inspector is feeling that day and I have a feeling they base some of the rent value off zillows rent zestimate. Overall I have had a good experience working with the Lincoln housing authority. Feel free to give me a call I can explain more about everything and some things to watch out off.  Good luck.