"Never, ever do Section 8"

[Bienes Raices]

I have a friend who was a successful landlord for many years. When I mentioned Section 8 to him he advised me never to get involved with it, that it was only for experts who know how to handle it. He said the Section 8 lease renews automatically every year and it's almost impossible to get rid of a holdover tenant, or a problem tenant.

Now, to be fair, he's never actually done Section 8.

What's the truth? I was rather surprised to hear all of this, since people often speak positively of S8 on this forum. I was under the impression that the inspection and making sure they have the correct vouchers were the two big hurdles. Is it a lot more complicated than this? Thanks.

[Michael Rossi]

That's obvious!

There is ABSOLUTELY NO DIFFERENCE between Section 8 tenants and other tenants. I put all my Section 8 tenants on month-to-month leases. I can get rid of them with a 30 day notice and yet the Housing Authority makes them stay a year (or terminates their voucher). Win-win (for me). Even if you sign the lease for a year with the tenant, you can get rid of them for all the normal reasons and following the legal procedures in your state.

I have a lot of Section 8 rentals and a lot of non-Section 8 rentals. It's all pretty much the same.

Mike

The inspection is a nuisance, but no big deal if you maintain your property.