Section 8 and Housing Tenants Pros and Cons

[Stanley E.]

We've purchased our first investment property in a "revitalization" neighborhood. It has been on the market for about two months now. We originally didn't accept section 8 or housing tenants, but are reconsidering because the property has yet to be rented. We were hoping to attract tenants that may be more steady in their finances. However, that has not beenthe case. What are some experiences, pros and cons, with section 8 and housing tenants?

[Marcia Maynard]

There must be at least 3 types of landlords.  We accept Section 8 and have for the past 19 years and look forward to continuing our relationship with our local housing authority, who administers the program in our area.  

@Stanley E. , you would do well to read as many of the previous BP discussions on this as you can.  See the Section 8 links at the bottom of this in the "related discussions" section and also type Section 8 in the "search the site" box at the blue bar at the top of the page. Then contact your local Section 8 administrator and find out how the program works in your area. You could do very well by renting to Section 8 tenants. 

Our Section 8 residents are great long term tenants who take care of the property and pay rent on time. Our local housing authority is efficient and easy to work with. Some landlords have not had such an easy time. Part of it has to do with mindset and part of it has to do with poor tenant screening and part of it has to do with the way Section 8 is administered in a particular area.