Is Section 8 Housing as bad as people say?

[Mathew Zorn]

I have a rental home in zip code 23513 and wanted to know if it's worth switching the home to section eight? I understand that section eight makes those that qualify pay for a small portion of the rent and section eight covers the rest. My concern is will they damage the home, who pays for the repairs (homeowner, section eight, or the tenant), how will that affect the neighbors, will section eight tenant be responsible for all utilities as well? If anyone has any stories to share as well as any other information that would be great!

[Chinmay J.]

Originally posted by @Mathew Zorn:

I have a rental home in zip code 23513 and wanted to know if it's worth switching the home to section eight? I understand that section eight makes those that qualify pay for a small portion of the rent and section eight covers the rest. My concern is will they damage the home, who pays for the repairs (homeowner, section eight, or the tenant), how will that affect the neighbors, will section eight tenant be responsible for all utilities as well? If anyone has any stories to share as well as any other information that would be great!

You will always get two diametrically opposing views on section 8.  Its one of the most polarizing real estate conversations.   I am very much for it. The county/city pays you on time.. Always..The first month might be delayed due to administrative reasons, but from then onwards its like clockwork. 

I have 1 Section 8 tenant right now, whom I have vetted like anyone else. They are good people. They pay their own utilities. No issues.  They stay long term unlike 1 or 2 yrs for some other tenants. Eventually, I plan on making all my properties, at least in the state of Virginia, Section 8 properties. 

Also, the county/city does yearly inspections. The tenants are at the mercy of the the city/county approving them for the next year. If they are found in violation of rules like authorized pets, authorized guests, drugs, damage to the property, they could lose their vouchers. Once they lose the vouchers, its not easy to get reinstated.  There is always a huge waiting period.  Huge demand for housing and not enough supply.