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Updated 4 months ago,
1st time renting out to section 8
Hey guys, I need some advice on my first rental.
My agent said it might be worth renting out to section 8 tenant and he was able to convince me. Do you guys have experience on section 8 tenants? What were your experiences like? Are there any additional clauses i need to put on the lease agreement, eg. taking care of the property, timely payment of their portion of the rent etc.
i also need some input on whether forming an LLC would be a good idea. I have the property under my name and was thinking of getting an LLC down the road. Would it be a good idea or having a personal umbrella policy should be good enough? Any advice is greatly appreciated. Thanks!