Section 8: Month-to-Month or Long Term Lease?

Question

What type of lease do you prefer to use with Section 8 tenants?  Does the Section 8 office prefer/require a certain type?

Heather W. · Answer

@Jamal Tyree

Just because the AHA has limited requirements to get on the program doesn't mean you can't use your normal screening criteria to select your tenants.  The last S8 participant I selected had a credit score of almost 700 with a 2 past residences in the last 20 years and the same job for 18 years.

What are your normal selection criteria?  Have you attending the landlord briefing yet?

Brandon Hall · Answer

Jamal I'm not sure.  I'm just starting out as well.  I just closed on my first investment property a week ago.  It's a 4 plex and 2 of the units are rented already with good tenants.  I'm trying to get section 8 tenants in the other 2.  My guess is that they should provide you with a list of previous landlords and you can verify that way.

Derrick Craig · Answer

Longer the term the better!!

Jesse Waters · Answer

All my Sec. 8 tenants are on one year leases.  I don't think you can go shorter.  Personally, I like longer leases if I can get them, and I really like keeping my section 8 tenants around. They have been some of the better tenants that I have had.

Jamal Tyree · Answer

Hi, I'm just starting out and I've been so afraid of sec 8 tenants.  Is there a "deeper" screening process you use.  Here's my concern.  I would prefer a single mother with two to 3 children working or going to college.  After talking to Atlanta sec 8 the only requirements were tenants couldn't be child molesters or have any convictions of cooking meth.  That's it?  How do I screen out people who have a history of tearing up houses? This is a nice house in so-so area.

Would it be better to just rent it out to college students.

Section 8: Month-to-Month or Long Term Lease?

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