Originally posted by @Rayan Faris:
@Henry M.
I don't want people damaging my property.
However, I've heard some people do well in these areas with section 8 tenants.
Personally, I don't understand why people rent in higher crime areas. I'd rather live in a safe area with a small crappy property especially if I had a family.
Rayan,
I've been using Section 8 since 1997 and agree, results can be profitable while screening and filtering tenants for properties in all areas of town.
As for why people rent in higher crime areas? Usually it's economics and their personal limits financially, but there are those who were raised in the area who do not see their areas of residence as someone might who doesn't live in those areas... Some have friends and family who may reside in those areas and may find comfort in the neighborhoods which may have higher crime.
For example, if I have a property in Indian Creek, Camelot, or The Glen in San Antonio, Texas... I don't have to appeal to those who live outside those areas to bring a successful tenant to any property I may own. I don't expect anyone who lived in Alamo Heights or Terrell Hills to want to be interested in areas I may have rentals in... Usually tenants will come from within each of their respective neighborhoods they know and grew up in.
I grew up in the Southeast side of San Antonio and thought everyone lived like me. In other words, my normal was abnormal. Now that I'm much older and no longer live in my old neighborhood, I now recognize, the area I grew up in is not safe for my kids, much less was safe for me growing up in that crime ridden neighborhood.
I still have family in the Southeast side who will live and die in the area... And they do not see the neighborhood as now I see it. Maybe they're content, maybe they're numb to their surroundings, maybe they do not know any better as they have never experienced the contrast of living in better areas of town... Irregardless, it is their choice.
I have a friend who I grew up with since elementary and who still resides in our southside neighborhood. He and his brother own dozens of properties around my old neighborhood and when they have vacancies, he'll advertise through Sec. 8. In one week, he has had a minimum of 15 potential tenants begging to live in his property.
Why?
Because of family, friends and it is the neighborhood they know. Also it is near the schools... Schools which I attended that were very rough and by today's reviews, rated 2 of 10 (best). Back then, it was probably in the negative.
Lol. It is sad, but true.
Anyways, I hope this gives you insight to why people may stay in those areas which may have higher crime. Also Sec. 8, can be an asset when screened correctly.
Lastly, damage, tagging (graffiti) or theft is more of an issue in these types of neighborhoods. So you need to be proactive when rehabbing, updating or just touching up vacant properties for rental or sale, as to prevent the above from happening. Especially, with single family homes.
This of course is just my two pesos. Again, I hope this helps.
Big Henry
