All Forum Posts by: Nicholas Stout
Nicholas Stout has started 1 posts and replied 4 times.
Post: Landlord getting into section 8 rentals. Any Tips?
- Posts 4
- Votes 3
Thank you all for your input! I'm not converting my properties I am simply dabbling in the S8 realm of things. I have plenty of properties that I can lean on if I must but it is something that I definitely want to get added to my portfolio. In the long scheme of things I truly want to help people and if that means giving people in S8 a place to stay I'm all for it. eventually I would like to aim on specifically helping out veterans that are in this situation. I know a lot of you said to only keep the house up to pass inspection but personally if i do the correct screening why not make it a little better. I know this will be a trial and error for myself but if it was easy everyone would be doing it right. Once again thank you for all your input and I hope you all have an amazing week and a happy new year!
Post: Landlord getting into section 8 rentals. Any Tips?
- Posts 4
- Votes 3
Quote from @Nathan Gesner:
You'll definitely need more time to get things processed. I'm sure it's a little more efficient in larger cities, but my market requires up to 60 days to get approval.
Lower your expectations with Section 8 tenants. In my experience, a large percentage of them are fully functional adults that refuse to take personal responsibility for their lives, which is why they are receiving free rent from taxpayers instead of working for a living. They don't communicate well, don't take responsibility for their actions, do not clean or maintain homes well, and will shaft you when it's time to leave.
Other than that, it's a pretty good system.
Thank you, Do you think families treat the property better than individuals? just curious if you have seen a correlation to property maintenance or damage based off of family size in the property?
Post: Landlord getting into section 8 rentals. Any Tips?
- Posts 4
- Votes 3
Quote from @Anderson Banegas Cerrato:
Hey Nicholas,
Welcome to the Section 8 space! One tip on rent valuations: it's helpful to provide strong comps during the inspection process to justify your rent expectations—be sure they align with HUD guidelines. Sometimes a second inspection or negotiation can also help adjust the valuation.
As for timelines, expect paperwork and approvals to take longer than usual, especially for first-time landlords in the program. Staying organized and maintaining open communication with your local housing authority can help streamline things.
What’s your biggest concern right now? Happy to share more if it helps!
Best,
Anderson
Thank you for the insight. I will definitely be bringing comps next time! My biggest concern is just making sure I'm by the book and mostly making sure my property doesn't get destroyed, I have heard a lot of horror stories. Any tips or tricks on vetting your renter?
Post: Landlord getting into section 8 rentals. Any Tips?
- Posts 4
- Votes 3
I'm in the process of converting my properties into Section 8 rentals and wanted to connect with experienced landlords who have navigated this space. Have any of you faced challenges with getting your properties valued correctly for rent under the Section 8 program? The HUD guidelines suggest a certain rent amount, but after inspections, the figure came back significantly lower than expected.
Additionally, do you have any general tips for working within the bureaucracy of the Section 8 program? What should I expect in terms of timelines, paperwork, or other administrative hurdles?
Any insights or advice on these topics would be greatly appreciated. I'm still relatively new to this, and I’m looking to learn from those with more experience. Thank you in advance for your guidance!