Lets talk section 8!

[Noah Yoder]

I wanted to start a discussion around Section 8. It seems a lot of people have been burned by a bad tenant or don't fully understand how voucher tenants are placed. I work with some investors here in Columbus, Ohio who love it and some who hate it. 

Personally, I think it's a fantastic strategy if you have the right team to manage and place the tenant. There are decent incentives for investors and rents are virtually guaranteed.

It would be nice to hear some thoughts, experiences, and maybe some insight surrounding this topic.

[Drew Sygit]

@Noah Yoder

To be successful with S8, there are several potential negatives that need to be addressed:

1) Tenants trashing the property
SOLUTION: screen S8 applicants just like all other applicants. Perhaps include surprise visit to current home, as how it looks is how your property will end up looking.

2) Tenants abusing owner-paid utilities
SOLUTION: put every utility possible in tenant's name. Get caseworker approval to put limit on utilities that if exceed either require tenant to pay or terminates lease.

3) Tenants not paying their portion of rent & utilities
SOLUTION: again, screen S8 applicants just lke other applicants.

Too many landlords get a S8 voucher and take shortcuts on screening S8 applicants.