Section 8 Pros & Cons (by Patrick [VA]) Jan 17, 2019 10:17 AM|
Section 8 Pros & Cons (by Barbara [VA]) Jan 17, 2019 10:52 AM
Section 8 Pros & Cons (by S i d [MO]) Jan 17, 2019 10:58 AM
Section 8 Pros & Cons (by Barb [MO]) Jan 17, 2019 11:23 AM
Section 8 Pros & Cons (by RR78 [VA]) Jan 17, 2019 12:11 PM
Section 8 Pros & Cons (by Alan [CA]) Jan 17, 2019 12:12 PM
Section 8 Pros & Cons (by Beth [WI]) Jan 17, 2019 12:37 PM
Section 8 Pros & Cons (by 6x6 [TN]) Jan 17, 2019 12:46 PM
Section 8 Pros & Cons (by Mike [PA]) Jan 17, 2019 1:02 PM
Section 8 Pros & Cons (by Sisco [MO]) Jan 17, 2019 3:13 PM
Section 8 Pros & Cons (by Robert J [CA]) Jan 17, 2019 5:18 PM
Section 8 Pros & Cons (by GKARL [PA]) Jan 17, 2019 6:28 PM
Section 8 Pros & Cons (by plenty [MO]) Jan 17, 2019 7:52 PM
Section 8 Pros & Cons (by Lynda [TX]) Jan 17, 2019 10:51 PM
Section 8 Pros & Cons (by Robert J [CA]) Jan 18, 2019 8:44 AM
Section 8 Pros & Cons (by myob [GA]) Jan 18, 2019 11:55 AM
Section 8 Pros & Cons (by melinda [MD]) Jan 18, 2019 2:36 PM
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Section 8 Pros & Cons (by Patrick [VA]) Posted on: Jan 17, 2019 10:17 AM
I have a property that I just completely re-did. New floors, kitchen & bath. I am kicking around signing up for section 8. Our area is trying to get local area landlords to accept it. I was really worried about my house getting tore up and no security deposit. I was recently told that landlords can now demand a deposit from section tenants, and it is on the section 8 tenant to come up with it if they want the place.
I was also told that not everyone who wants to sign up for section 8 is accepted. The person told me there was a waiting list and if one on section 8 gets caught engaging in criminal activity, like drugs or tearing up the house they could be kicked out of the program.
What are your thoughts on the program. I have three single family rentals. Thanks for any advice
Section 8 Pros & Cons (by Barbara [VA]) Posted on: Jan 17, 2019 10:52 AM
My experience with section 8 locally has been awful. I have had inspections fail because the brand new carpet needed vacuuming, failed for a super tiny cut in the screen that a "skinny fly" could get thru. I have had inspectors ask tenants if they want new kitchen floor and then fail my unit until I get new flooring down.
I have had tenants blatantly disregard sec. 8 occupancy such as move additional people in and inspector looks the other way.
Don't get me started on tenant behavior.
There are good decent sec. 8 people out there, but imho 75% of them are deadbeats. --97.32.x.xxx
Section 8 Pros & Cons (by S i d [MO]) Posted on: Jan 17, 2019 10:58 AM
Well....this is timely!
During Govt shut downs like the one we're currently experiencing Sec 8 may run out of money and not pay. It is possible that the HAP contract a land lord signs doesn't allow them to evict for "situations" like lack of approved funding. The current funding is expected to last thru February, and after that the land lords get to figure out what to do on their own. "Guaranteed rent" at its best!
Also, local offices can make or break a land lord. If you've got a bad one or if the one you're with goes bad, you're toast. One bad director can hose up the entire thing.
Remember the 10% "hair cuts" on rent payments post-Great Recession? Several major markets were affected.
Their inspectors take 2-3 weeks to schedule the initial appointment, during which time you have a vacancy. Then if they find even one thing wrong the whole unit fails and you get to correct that and make a follow up inspection...1-2 weeks later, during which time you have a vacancy. Too slow for me. I want my vacancies filled ASAP.
Bottom line is Sec 8 is slow, often inept, is funded by people who sometimes can't agree on the color of a green crayon, and they have zero skin in the game if it all goes badly. It CAN be good in some markets and for LLs who work in poverty-stricken areas. Overall, I do not want that level of Govt involvement in my income stream.
I'll get to the Pros if I ever think of any. --173.20.xxx.xxx
Section 8 Pros & Cons (by Barb [MO]) Posted on: Jan 17, 2019 11:23 AM
My experience is that Section 8 applicants generally don't pass my screening. For non-student applicants, some of my criteria are:
2 years in same line of work or 1 year in same position at same employer.
I don't accept people who owe their last LL money or can't get a positive review from current/previous LL. I definitely don't accept people who have been evicted.
Positive home visit (by me, or a trusted designate)
More, but those usually rule out a Section 8 applicant. Plus, if I'm looking to fill a place NOW, I'm not going to wait around on S8 to get around to it.
Section 8 Pros & Cons (by RR78 [VA]) Posted on: Jan 17, 2019 12:11 PM
You have always been able to demand a deposit from section 8 tenants.
Most are bottom of the barrel tenants. Usually irresponsible. They cant afford the time or money to raise one child properly. And decide the solution is to have more.
And lot will depend on your local section 8 office. Years ago we did deal some with them. Local office was good and we did have one kicked off program for damages. Tenant just appealed the local office decision. They were allowed back on the program. I was actually told by the hearing officer that is was only because they had no where else to go without section 8.
And yes not everyone is accepted. But that is not based on the quality of the tenant. It is just based on who signs up first. And income and need. --73.152.xx.xxx
Section 8 Pros & Cons (by Alan [CA]) Posted on: Jan 17, 2019 12:12 PM
Really depends on your Sec.8 office. Our local Sec.8 office is supportive and easy to work with. We like our Sec.8 renters...BUT we screen very diligently!
Section 8 Pros & Cons (by Beth [WI]) Posted on: Jan 17, 2019 12:37 PM
I would say that the only reason to accept Section 8 is if the vacancy rate in your area is high. Then you may come ahead financially.
Typically you cannot garnish wages of a Section 8 tenant if they damage your apartment.
Now, if I had one BR apartments and could fill them with elderly on Section 8... that might be worth in as well. --47.12.xxx.xx
Section 8 Pros & Cons (by 6x6 [TN]) Posted on: Jan 17, 2019 12:46 PM
I asked about section 8 on November 15th 2018. You can go to the search box up top and type in section 8 and change year to 2018 in the box to right. It changed my mind!! --73.120.xx.xxx
Section 8 Pros & Cons (by Mike [PA]) Posted on: Jan 17, 2019 1:02 PM
Govt pays a portion
Tenants have Entitlement mentality
Everything is somebody elseís fault
Expect more people to occupy then is on the lease
Expect more late pay issues and more wear n tear
After all itís not there fault society dealt them this hand --174.201.xx.xxx
Section 8 Pros & Cons (by Sisco [MO]) Posted on: Jan 17, 2019 3:13 PM
With a newly renovated property, why would you opt to rent it via section 8?
IMHO, the problem is this: section 8 tenants are poor, very poor. They have proved that they have no money. They will behave as poor people behave, they will deal with issues as poor people do. These conditions will require much more of their housing provider than a stable self-sufficient tenant.
So, I ask again, with a newly renovated property, why would you opt to rent it via section 8? are you unable to rent your units? are you unable to attract qualified applicants? are you unable to collect rent? other difficulties?
If your consideration of section 8 is due to some difficulty, you would be better served to learn how to overcome the difficulty than learn section 8. --72.172.xxx.xx
Section 8 Pros & Cons (by Robert J [CA]) Posted on: Jan 17, 2019 5:18 PM
One of my step children I gave them almost anything they wanted in the beginning. They didn't take care of it because it was free!
Another step child I made earn the things they wanted by working around the house and then I'd contribute 50% of the cost.
Fast forward. The child that had to pay with time an effort took very good care of anything they worked hard for.
This same applies to Section 8 tenants. When they get a rental that cost them almost nothing, then the value of the rental is very low, not worth the effort to keep up.
But when someone has to work 5 days a week, 52 weeds a year in order to pay their rent an obligations, they will take very good care of a rental, why? Because they worked too hard to let it just go down hill. --47.156.xx.xx
Section 8 Pros & Cons (by GKARL [PA]) Posted on: Jan 17, 2019 6:28 PM
"But when someone has to work 5 days a week, 52 weeKs a year in order to pay their rent an obligations, they will take very good care of a rental, why? Because they worked too hard to let it just go down hill."
Not necessarily. There's plenty of folks who work who are sloppy and destructive. I've had a few of them.
The show stopper for me on section 8 is the slowness, the inspections and the tenant risk. I know a few folks who swear by it though and if I had no other options, I'd go that route. As far as inspections are concerned, they'd streamline things a lot if they accepted a certificate of occupancy rather than have another inspection regime. --209.122.xx.xxx
Section 8 Pros & Cons (by plenty [MO]) Posted on: Jan 17, 2019 7:52 PM
I have good Section8 tenants. They bring stability to the neighborhood. They make my house a home and they are my partner. Overall we have good office to deal with. Few interesting ordeals but overall it's been good for my business. Can be a niche. Do it wrong and i can see lots of pitfalls. Have a mentor. --99.203.xx.xxx
Section 8 Pros & Cons (by Lynda [TX]) Posted on: Jan 17, 2019 10:51 PM
Patrick, opting to take Sec-8 is like taking on a partner in your business. Only YOU immediately become the junior partner and THEY become the powerhouse that commands your obedience to their rules. And always remember the tenants are THEIR clients,and they back their clients against you.
Sec-8 is NOT just the bad tenant pool you are forced to accept--it is also the bad program management, bad inspectors, and rules that not only change but are misinterpreted to suit any of the personnel that are interpreting them. (and if you BELIEVE that rent payments are guaranteed, then I can probably sell you a nice bridge in San Fransisco). Is this the way you want to run your business? --108.87.xx.xxx
Section 8 Pros & Cons (by Robert J [CA]) Posted on: Jan 18, 2019 8:44 AM
One more thing on the Section 8 subject, the model here in the Los Angeles area:
The section 8 tenant pays around 20% of their income towards the rent, the City pays the balance. What no one seems to know is that the City asked the State for a 25% over the rental amount to cover their cost to cut a check each month and have an annual inspection. So if the average monthly rent paid by Section 8 to a landlord is $1000, then they City is making $250 a month profit. Any DISPUTES between a "greedy" landlord and a tenant making the City $3000 a year -- the City will side with the tenant every time!
And the State asks the Federal Government for a 10%-15% commission for writing the City a monthly rent check. So the State is also making money and thinking a Section 8 tenant is worth "GOLD" to the income bottom line of the State.
And the Federal Government will just print up money, go into debt or raise taxes to create these programs so the politicians can have "power".. --47.156.xx.xx
Section 8 Pros & Cons (by myob [GA]) Posted on: Jan 18, 2019 11:55 AM
want a trashed NEW fix up? YUP sec 8.
Who in their right mind with only 3 property's would even consider 8? --99.103.xxx.xxx
Section 8 Pros & Cons (by melinda [MD]) Posted on: Jan 18, 2019 2:36 PM
Patrick, best of luck to you if you decide to go with Section 8. We have close to a dozen and if I could eliminate them all I would. Most do not seem to have any concerns about taking proper care of the property, so you will replace many doors, toilet paper holders, appliances, carpeting and anything else that in their mind was destroyed because of "normal wear and tear". Whatever they do "fix" will most likely not be up to your standards, especially when they decide to paint. Talk with other Sec. 8 landlords. They will let you know how the local housing office operates. --24.233.xxx.xx
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