All Forum Posts by: Phil Earley

Section 8 can work very well but don't let the guaranteed rent over shadow the importance of screening.  Section 8 applicants should be screened just like everyone else to protect your investment.  

Adding to Brad Greenes post: The Atlanta Housing Authority makes it very clear on "no side deals."  If the voucher is for $1500 and the rental amount is for $1800, a side deal for the additional $300 for the tenant to pay is not enforceable.  If the voucher doesn't cover the rental amount, I'd probably pass.  

I believe it cuts way down on drama for everyone to end everything as quickly and reasonably as possible.    If the tenant is already willing to forfeit the deposit, they are probably willing to pay a penalty to release themselves from future liability of the lease and state law.   Ask them to pay an additional months rent to cover your unexpected vacancy and an admin fee to cover utilities and wish them well.  They will probably say thanks and when home leases quickly, you should come out ahead.   A win win for everyone.  

I"ve been in Real Estate a long time and want to start buying long term hold rentals for myself.  Trying to figure out the best ways to do it.  

Thanks,

Phil