Section 8 - Killing the Stigma

[Tanner Sherman]

Hello BP,

I just had to share my recent experience with Section 8 rentals, and I couldn't be more thrilled. Initially, like many others, I harbored misconceptions about this program only hearing the negative connotations about units getting ruined and poor tenant quality. However, after educating myself and delving deeper, I discovered the untapped potential it holds. I was marketing one of my units for rent recently and found that 50-75% of the inquiries/applicants were section 8. They usually initiate the contact with "do you accept section 8" and my response was always, "we are not currently approved to be on the program, but are not against it". To which 99% never responded. Except for the 1 that we wound up renting to. 

She called me and explained that she has a full time job with 3 grown kids and was a single mom. She told me, "the vouchers are temporary, just until I finish my real estate classes. Next year I'll be paying my own rent." Of course, I had a soft spot for someone aspiring to better their life through real estate. She offered to introduce me to the representative from the city, who assured me she was approved for the program and was in great standing. I did a background check that came back clean, credit score came back right on the border of our limits, but I took it a step further by not only calling her reference and verifying that was the property manager, but also calling the owner of the house and hearing if she was a good tenant. The owners were in their 80's from my research, said the tenant had lived with them for a long time and they were very happy with her. They knew her by name and said they were sad to see her go. 

Section 8 rentals can be an incredible opportunity for both landlords and tenants alike. It's not just about rental income; it's about providing a stable home for families in need. Contrary to popular belief, the program offers a reliable source of income, with regular payments from the government directly. Plus, I found the community of Section 8 tenants to be genuinely caring and grateful, which has made the experience even more rewarding.

There are various resources available to assist landlords, making the process easier and more efficient. By letting go of my preconceptions and embracing Section 8, I've found a meaningful way to contribute positively to my community while securing a stable income. It's time we debunk the myths and consider Section 8 rentals as a truly great opportunity!

[James Wise]

Quote from @Tanner Sherman:

Hello BP,

I just had to share my recent experience with Section 8 rentals, and I couldn't be more thrilled. Initially, like many others, I harbored misconceptions about this program only hearing the negative connotations about units getting ruined and poor tenant quality. However, after educating myself and delving deeper, I discovered the untapped potential it holds. I was marketing one of my units for rent recently and found that 50-75% of the inquiries/applicants were section 8. They usually initiate the contact with "do you accept section 8" and my response was always, "we are not currently approved to be on the program, but are not against it". To which 99% never responded. Except for the 1 that we wound up renting to. 

She called me and explained that she has a full time job with 3 grown kids and was a single mom. She told me, "the vouchers are temporary, just until I finish my real estate classes. Next year I'll be paying my own rent." Of course, I had a soft spot for someone aspiring to better their life through real estate. She offered to introduce me to the representative from the city, who assured me she was approved for the program and was in great standing. I did a background check that came back clean, credit score came back right on the border of our limits, but I took it a step further by not only calling her reference and verifying that was the property manager, but also calling the owner of the house and hearing if she was a good tenant. The owners were in their 80's from my research, said the tenant had lived with them for a long time and they were very happy with her. They knew her by name and said they were sad to see her go. 

Section 8 rentals can be an incredible opportunity for both landlords and tenants alike. It's not just about rental income; it's about providing a stable home for families in need. Contrary to popular belief, the program offers a reliable source of income, with regular payments from the government directly. Plus, I found the community of Section 8 tenants to be genuinely caring and grateful, which has made the experience even more rewarding.

There are various resources available to assist landlords, making the process easier and more efficient. By letting go of my preconceptions and embracing Section 8, I've found a meaningful way to contribute positively to my community while securing a stable income. It's time we debunk the myths and consider Section 8 rentals as a truly great opportunity!

 I love me some Section 8, have 1,000's of Section 8 tenants.

Having said that, this rosey picture of this lady you painted, it means nothing. You have no idea if this lady is actually a good tenant or not. She said she's getting off Section 8 next year. WTF cares? Tenants say all kinds of crap when you're screening them, doesn't mean anything. Current landlord says she's great. WTF cares? Is he gonna say "dude she's terrible, I can't wait to move her out of my house and into yours."

Moral of the story is the Section 8 stigma exists for a reason. Doesn't mean you won't make a ton of money with it, I've made millions. But this sunshine and rainbows idea you've got in your head after getting smoke blown up your butt by some lady ain't how it works in the real world.