General Landlording & Rental Properties
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 6 years ago,
buying house that failed section 8, with exisitng tenant ?
So here is a quick run down of a property I am looking at. Its in a C neighborhood, but not in the war zone, mostly families on section 8 rentals in that area of town. I purchased another rental on that street a few weeks ago and I am in the process of getting it ready to rent. Then I found this next house just down the street and started looking into it.
Tenant has lived in house for 5yrs, on Section 8.
Recently Louisville Section 8 has been awful, and investors are fleeing the program, as they fail you for everything.
This house failed inspection in February, (its now late June) and owner has not received payment since Feb. Rather than fix the minor problems, or get off the section 8 program and have her move, he has decided to just sell the property.
My biggest concern is that he said the tenant is on a month to month lease, (and he has not been exactly truthful on several statements) and the tenant says she is on a 1yr lease and wants to stay. Tenant told me she cannot afford the rent herself, she relies on section 8.
If I purchase the property, What would be the process to move her out and how hard would it be? I am researching the S8 program here, but I really dont think I am interested in getting into that program.