Regular tenant or Section 8 tenant paying higher rent?
Which is better, renting to a regular tenant or Section 8 tenant paying higher rent? I have (2) fourplexs, one is fully rented by regular tenants, and the other is fully rented by Section 8 tenants, in Las Vegas.
I would have to say Section 8 tenants because I get rents on the first of each month, and since they are Section 8 tenants, I tend to get higher market rents, by 20%. The negative is the paper involved, and snail pace being a government agency. Also, since tenants get free money, they tend to stay longer, and keep the place up to par or they will lose award from Section 8.
Also, let's say your have the normal repair issues for either normal tenant or Section 8, then going with Section 8, you will get the money direct deposited to your bank account on the first, as opposed to chasing them down and having them give you all kinds of excuses.
Terry