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  • September 30, 2008 at 6:12 PM #278676
    EconProf
    Participant

    If your units are mediocre, hard to fill, and you are not expecting their values to appreciate, the Section 8 program is OK. You can get a range of tenant types, from the hard-working-but-low-income family, to the real losers. The regularity of the monthly gov’t check and the long-term, uncomplaining nature of the good tenants can be great. Problem is, if you get a loser, the gov’t makes it hard to get rid of them. The bureaucracy you have to work with is frustrating, and the annual inspections nit-picking little items is insulting.
    You can pick and chose your Section 8 tenants carefully and do OK. Also, the S. 8 rents can often be above market rents, esp. because the gov foolishly puts units into a category based on #of bedrooms and (I think), # bathrooms. So if you have unusually small BRs or are in a rough neighborhood, you can game the system and extract higher than market rents.
    Some landlords swear by Section 8. But it is not a plus when trying to sell, as it may put a damper on your value.

    October 5, 2008 at 3:39 PM #281432
    sd_matt
    Participant

    How much freedom do I have to choose my tenants? Lets say I had a friend who was not first on the list but I knew would be a good tenant? Can I choose that individual?

    October 5, 2008 at 3:39 PM #281709
    sd_matt
    Participant

    How much freedom do I have to choose my tenants? Lets say I had a friend who was not first on the list but I knew would be a good tenant? Can I choose that individual?

    October 5, 2008 at 3:39 PM #281713
    sd_matt
    Participant

    How much freedom do I have to choose my tenants? Lets say I had a friend who was not first on the list but I knew would be a good tenant? Can I choose that individual?

    October 5, 2008 at 3:39 PM #281755
    sd_matt
    Participant

    How much freedom do I have to choose my tenants? Lets say I had a friend who was not first on the list but I knew would be a good tenant? Can I choose that individual?

    October 5, 2008 at 3:39 PM #281767
    sd_matt
    Participant

    How much freedom do I have to choose my tenants? Lets say I had a friend who was not first on the list but I knew would be a good tenant? Can I choose that individual?

    October 5, 2008 at 4:01 PM #281442
    EconProf
    Participant

    I think you can freely chose, so it is something to check out (outside of the fact that I would in general not rent to a friend or relative–it has never worked out for me).
    Once you pick a Section 8 tenant you are married to them, so it is the one time you really can and should be picky. The usual rules about discrimination of course apply.

    October 5, 2008 at 4:01 PM #281719
    EconProf
    Participant

    I think you can freely chose, so it is something to check out (outside of the fact that I would in general not rent to a friend or relative–it has never worked out for me).
    Once you pick a Section 8 tenant you are married to them, so it is the one time you really can and should be picky. The usual rules about discrimination of course apply.

    October 5, 2008 at 4:01 PM #281723
    EconProf
    Participant

    I think you can freely chose, so it is something to check out (outside of the fact that I would in general not rent to a friend or relative–it has never worked out for me).
    Once you pick a Section 8 tenant you are married to them, so it is the one time you really can and should be picky. The usual rules about discrimination of course apply.

    October 5, 2008 at 4:01 PM #281765
    EconProf
    Participant

    I think you can freely chose, so it is something to check out (outside of the fact that I would in general not rent to a friend or relative–it has never worked out for me).
    Once you pick a Section 8 tenant you are married to them, so it is the one time you really can and should be picky. The usual rules about discrimination of course apply.

    October 5, 2008 at 4:01 PM #281777
    EconProf
    Participant

    I think you can freely chose, so it is something to check out (outside of the fact that I would in general not rent to a friend or relative–it has never worked out for me).
    Once you pick a Section 8 tenant you are married to them, so it is the one time you really can and should be picky. The usual rules about discrimination of course apply.

    October 5, 2008 at 5:14 PM #281501
    meadandale
    Participant

    I can’t think of anything positive about being a section 8 landlord. Maybe I should give you the phone number of a realtor buddy of mine who does PM for section 8 rentals…LOL

    October 5, 2008 at 5:14 PM #281779
    meadandale
    Participant

    I can’t think of anything positive about being a section 8 landlord. Maybe I should give you the phone number of a realtor buddy of mine who does PM for section 8 rentals…LOL

    October 5, 2008 at 5:14 PM #281783
    meadandale
    Participant

    I can’t think of anything positive about being a section 8 landlord. Maybe I should give you the phone number of a realtor buddy of mine who does PM for section 8 rentals…LOL

    October 5, 2008 at 5:14 PM #281825
    meadandale
    Participant

    I can’t think of anything positive about being a section 8 landlord. Maybe I should give you the phone number of a realtor buddy of mine who does PM for section 8 rentals…LOL

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