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Updated almost 10 years ago, 01/12/2015
Pros and Cons of Section 8 SFRs?
I've had a couple of inquiries about Section 8 on recent rentals I've had available. Have never had a section 8 tenant, but have stated that I will accept if income criteria (3x rent) and other criteria (rental history, credit/criminal check) are OK. Even including the Section 8 subsidy in their income, most of these folks still don't qualify.
I have some applicants (they took applications but have not returned them yet) with income not yet verified but supposedly plenty high for the requirement. It is a couple, and the guy pulled me aside to ask about leaving him off any lease submitted to Section 8 because either he would be forced to move out or his partner (girlfriend/fiance/wife?) would have to give up her benefit.
Even if they otherwise meet income and other criteria, can I reject them because he basically told me they are gaming the system at best, if not committing outright fraud?
I'm sure others have had similar issues come up. How have you handled them? What are the general pros/cons of accepting section 8?