Placing a property on Section 8

[Valerie Copeland]

Does anyone have some input on putting a property on Section 8, I've heard good and bad things....Please advise...Thanks

[Nathan Gesner]

There is a lot of paperwork and effort involved but you get a guaranteed income from the state.

The bad news? In my experience, a large percentage of Section 8 tenants are not good tenants. I have one tenant that is severely disabled and she deserves assistance. I have other Section 8 tenants that are fully capable of working but they refuse. They eventually create problems. 

My last one was a single mother of three. Her rent was over $1,000 but she only had to pay $25. Yes, $25. Despite this small amount, she was regularly late. Then we discovered she was working and getting paid under the table so HUD wouldn't find out and cut her benefits. We kicked her out and she left us with cleaning and repair charges totaling about $2,000.