Just Bought a Rental - Should I keep it as a Section 8

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I just bought this 3 bed 1.5 bath 1400 sq. foot house in Decatur - nicer end of Decatur.   There are properties that are being built across the street that are planned for resale around $200K.  So the neighborhood has a lot of potential.   Currently there is section 8 and it is  under rented meaning it could get $800 a month and is now only getting $565.   I am trying to decide first of all if I need to get a property manager.   I have mixed feelings about section 8 but also have a mixed feeling about paying for property management...  I like the predictability of Section 8 but only if it will come up to the market rent of $800.  

Open to people's thoughts.   Jeannie 

[Dan Pepitone]

Originally posted by @Sal Levin:

Jeannie,
I have been managing properties in Decatur for over 7 years now and would recommend getting rid of section 8, you can most probably get a lot more then $800 if you do a decent rehab and you will get better tenants then section 8.

I have been managing homes in DeKalb county for the past six years, all Section 8!  I will only do Section 8 rentals in that area! 

For a 3/1.5 in Decatur I get anywhere from $900-$950.  The reason you are getting such low rent is because the previous landlord accepted a 1 or 2 bedroom voucher for the home.  You can not change that, your best bet is to get him out of there and re rent it.  Calling section 8 to come look at the property is not going to happen.  They have all the numbers they need in front of them...how many people are in his family and his income.  You can't change his voucher size and that is what effects the amount.