Cleveland Section 8 payments vs Available properties

[Stefano Grottoli]

Hi!

I'm looking to start investing in Cleveland, and was looking at some 3 bedroom properties. The section 8 voucher pays $1,550 per month to 3 bedroom properties according to the Cuyahoga Metropolitan Housing Authority. However, when you look at the Affordable Housing website, only 4 out of 32 available properties that accepts voucher are listed by $1,550 or more.

Is that maybe a red flag that there's no demand for Section 8 in Cleveland? Why would any landlord list their properties for LESS than what the government is willing to pay? I'm just trying to understand the market in the area a little bit better. This will be my first rental property and I want to do the right thing. 

Thanks!

[James Wise]

Quote from @Stefano Grottoli:

Quote from @James Wise:

Quote from @Stefano Grottoli:

Hi!

I'm looking to start investing in Cleveland, and was looking at some 3 bedroom properties. The section 8 voucher pays $1,550 per month to 3 bedroom properties according to the Cuyahoga Metropolitan Housing Authority. However, when you look at the Affordable Housing website, only 4 out of 32 available properties that accepts voucher are listed by $1,550 or more.

Is that maybe a red flag that there's no demand for Section 8 in Cleveland? Why would any landlord list their properties for LESS than what the government is willing to pay? I'm just trying to understand the market in the area a little bit better. This will be my first rental property and I want to do the right thing. 

Thanks!

Section 8 demand in Cleveland is through the roof, but unfortunately they don't actually pay that amount.

 Really? Because I sent them an e-mail and they sent me the link in the original post (https://www.cmha.net/housing/landlords/rent.php) that shows that amount. As I'm new to Section 8, just trying to understand how it actually works, versus what we see on social media :)

 Lesson #1 - Nothing the government does makes sense and none of the employees have any idea what they are doing.