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Updated about 1 year ago, 11/09/2023
Renting to Section 8 for the First Time
Hello all,
I have decided to list one of my units as section 8 due to the neighborhood and lack of leads from non section 8 tenants. Does anyone have any advice about renting to section 8? I know people have very mixed experiences in doing so. I currently have it listed on Affordable Housing for $1,575 (3b, 1ba two-story duplex) with water included in that. I have also read that you're supposed to include all utilities in the rent and it must all be at or less than the amount their voucher is worth. If this is the case, then I would need to list it for around $1,700.
Part of me is afraid of the unexpected from these tenants, but another part of me does want to provide a good home to people in need. I do also think I may have rent listed too high, but based on comps in the area and then doing section 8 instead of a regular rental, $1,575 with water included seems reasonable.
I would love some input about renting to section 8 and any tips on it, such as certain things I should include in the lease or look for when screening (obviously income/credit will not be great from the tenant). TIA!
In addition to this, since I have AT&T already hooked up and serviced (I am currently living here but move into my new place in less than 2 weeks), would it make sense to keep wifi under my name and add that to the rent? Or charge separately? Or should I have it removed completely and have the tenant set up their own internet?
Thomas, Section 8 housing is a great avenue for consistent cash flow. A wise investor once told me that tenants who qualify for section 8 housing are the best tenants. Here's why, people qualify for section 8 housing due to their low income stream and clean records. Section 8 housing can be stripped away from the tenant if the tenant deals damage to another property, or is subject to breaking state laws. Thus, Section 8 housing is a royalty gifted by the government for people in need. Section 8 housing tenants understand these laws and will not let free money disappear into thin air.
You can get bad tenants in class A neighborhoods or section 8. Section 8 has pros and cons. Just comes down to you weighing the options then deciding if it's worth it to you to rent to section 8 or not.
Personally, section 8 isn't for me. Just because the government is helping them with rent, does not mean that the tenant is clean, respectful or your property, etc.
Thomas, Section 8 guarantees a steady income. Tenants with Section 8 will not want to mess up their vouchers once they qualify for it. I have a Section 8 tenant in the only house I own. The first of the month the rent is in your account. You can also look up the amount Section 8 is willing to pay for your rental.
Quote from @Thomas O'Donnell:
Hello all,
I have decided to list one of my units as section 8 due to the neighborhood and lack of leads from non section 8 tenants. Does anyone have any advice about renting to section 8? I know people have very mixed experiences in doing so. I currently have it listed on Affordable Housing for $1,575 (3b, 1ba two-story duplex) with water included in that. I have also read that you're supposed to include all utilities in the rent and it must all be at or less than the amount their voucher is worth. If this is the case, then I would need to list it for around $1,700.
Part of me is afraid of the unexpected from these tenants, but another part of me does want to provide a good home to people in need. I do also think I may have rent listed too high, but based on comps in the area and then doing section 8 instead of a regular rental, $1,575 with water included seems reasonable.
I would love some input about renting to section 8 and any tips on it, such as certain things I should include in the lease or look for when screening (obviously income/credit will not be great from the tenant). TIA!
I normally recommend to use a property manager who is experienced in the government forms, inspections, and timelines associated with section 8. Section 8 (CMHA in Columbus) can usually command a premium of rents but isn't always super simple.
- Marc Rice
- [email protected]
- 614-363-2787
Quote from @Thomas O'Donnell:
Hello all,
I have decided to list one of my units as section 8 due to the neighborhood and lack of leads from non section 8 tenants. Does anyone have any advice about renting to section 8? I know people have very mixed experiences in doing so. I currently have it listed on Affordable Housing for $1,575 (3b, 1ba two-story duplex) with water included in that. I have also read that you're supposed to include all utilities in the rent and it must all be at or less than the amount their voucher is worth. If this is the case, then I would need to list it for around $1,700.
Part of me is afraid of the unexpected from these tenants, but another part of me does want to provide a good home to people in need. I do also think I may have rent listed too high, but based on comps in the area and then doing section 8 instead of a regular rental, $1,575 with water included seems reasonable.
I would love some input about renting to section 8 and any tips on it, such as certain things I should include in the lease or look for when screening (obviously income/credit will not be great from the tenant). TIA!
If you screen well it shouldnt be an issue. Check credit and income, call past landlords, maybe even an employer if they have it
We recommend advertising for any & all tenants and having the same screening process for all of them.
- Michael Smythe
Quote from @Thomas O'Donnell:
Hello all,
I have decided to list one of my units as section 8 due to the neighborhood and lack of leads from non section 8 tenants. Does anyone have any advice about renting to section 8? I know people have very mixed experiences in doing so. I currently have it listed on Affordable Housing for $1,575 (3b, 1ba two-story duplex) with water included in that. I have also read that you're supposed to include all utilities in the rent and it must all be at or less than the amount their voucher is worth. If this is the case, then I would need to list it for around $1,700.
Part of me is afraid of the unexpected from these tenants, but another part of me does want to provide a good home to people in need. I do also think I may have rent listed too high, but based on comps in the area and then doing section 8 instead of a regular rental, $1,575 with water included seems reasonable.
I would love some input about renting to section 8 and any tips on it, such as certain things I should include in the lease or look for when screening (obviously income/credit will not be great from the tenant). TIA!