What are the pros and cons to leasing to a Section 8 tenant?

[Renee Adkins]

I have several rentals, but just listed one that I am managing myself and I am overwhelmed by the number of people who are calling about Section 8 housing. My pre-conception is that Section 8 is not profitable, but I want to help in some way. If I applied to the Section 8 program, what are the pros and cons? What questions should I ask the local housing authority in charge of the Section 8 program? If Section 8 was profitable, would you offer it as an option? Why or why not?

[Patrick Drury]

@Renee Adkins
Section 8 is definitely profitable. There are a lot of ways to make money in real estate just because you haven't done it that way yet doesn't mean other people aren't profitable. 

What questions should I ask the local housing authority in charge of the Section 8 program?
Ask what the intake process is and what paperwork needs filled out. In my opinion, going there in person can help so you can get copies of what needs to be filled out and can ask for a step-by-step process. The difficult thing is they are frequently changing the paperwork/ process without telling people. If you manage a lot of untis with them you find really quick, but if you have a couple it can be annoying.