Multifamily/SFA section 8

[Qui Van]

I am looking for my first rental property.  Can I get some pros and cons for turning my rental into a section 8 home please.  Any help on how I can do this would be appreciated.  Thanks

[Corby Goade]

There's nothing wrong with focusing on section 8 as long as you use the same screening criteria you use with every applicant. I wouldn't encourage you to focus on ONLY section 8 tenants. If you are in an area that requires the property to be approved, there's no reason to not have that done. Then you collect applications and screen them all in the same way. If you happen to get a section 8 tenant placed, great. If they aren't section 8, great. It's all about having a consistent screening process. 

Obviously the guarateed payments are a good thing. In my experience, the biggest problem is the annual inspections and required repairs. We've had to make some silly repairs of damages at our expense that were obviously tenant caused in order to get our rent checks, but that's part of the section 8 game. 

Good luck!