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Updated over 5 years ago on . Most recent reply

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46
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Alexa S.
  • Rental Property Investor
  • Alexandria, VA
6
Votes |
46
Posts

My DC property only attracts voucher holders- some questions

Alexa S.
  • Rental Property Investor
  • Alexandria, VA
Posted

I have a rental that is turning over for the third time. I had tenants for two years and then tenants for 3 years. The house is located in a little pocket right in between two booming neighborhoods- Mt. Vernon Triangle and NoMA, accessible to multiple metro stations, walkable to everything, has laundry, parking, a fenced patio and I feel its generally a pretty awesome unit. The house next door just went under contract for $630k.

Its coming available a month from now and I am finding this time, as in times before, nearly all, if not all, of the interest I am getting is from holders of housing vouchers. From what I understand, getting approved for voucher holders can be a cumbersome process in DC, with several weeks of waiting in between inspections, the inspectors can be total sticklers for things that aren't a big deal otherwise, and I worry that will leave me with vacancy (which may just be a reality in winter anyway). This process is also not something I see myself being able to easily navigate in December due to starting a new job, kids on winter break, the holidays, etc. 

I'm wondering:

1. Can anyone share their experience with the process of getting approved for renting to voucher holders in DC? What were the timelines? Was the process messy? What has your experience been?

2. Why is the only interest in my unit from voucher holders? Do market rate renters all demand amenities and high end finishes in DC?

I'd love any weigh-in from DC folks if you know the area. I am trying to read up on renting to voucher holders (as I see there are many posts on this) but my immediate concern is just not being able to navigate this process in December and worry of vacancy because of it. 
  

Most Popular Reply

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17,478
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Russell Brazil
  • Real Estate Agent
  • Washington, D.C.
30,165
Votes |
17,478
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Russell Brazil
  • Real Estate Agent
  • Washington, D.C.
ModeratorReplied

Source of income is a protected class in DC, so you can not discriminate against them.  The inspection for section 8 is substantially similar to the DCRA inspection you have to do anyways, so its no big deal since you are doing that inspection anyways.

In many neighborhoods in DC section 8 pays above market rent, so you might just be priced above what a regular renter would pay and at the level only section 8 would pay.

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