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Updated over 10 years ago,
Preemptive Strategies for Section 8?
Hi! After struggling to find cash flowing properties in Raleigh/Cary/Apex, I'm starting to look into buying Duplexes in "middle of the road" neighborhoods in Durham and do Section 8. I've been reading blog posts last night and have heard of horror stories related to section 8. I'm still tempted though because it seems I can get greater than 2% with these types of properties.
Do you guys have any suggestions as far as minimizing property damage/degradation when renting to section 8 tenants?
I'm thinking I should really screen the applicants and even interview 2 or three former landlords. I'm also thinking about possibly visiting the properties monthly or every 2 weeks to begin with until I know I can trust them. I've also heard I can have a stern conversation with tenants initially and tell them that I will report them if I see significant property damage and they can lose their section 8 vouchers? I heard no one wants to lose their vouchers. What do you think of these ideas?