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Updated about 5 years ago on . Most recent reply

User Stats

33
Posts
5
Votes
Deanna S.
  • Real Estate Investor
  • Alexandria, VA
5
Votes |
33
Posts

Converting property to section 8 in Cleveland Heights ?

Deanna S.
  • Real Estate Investor
  • Alexandria, VA
Posted

We have a stable multifamily property with 3 units. Not section 8. 1 unit will be vacant in 2 weeks. PM has asked us to consider sec. 8 as there is someone interested.  We want good tenants, stability.  We also know the economy has tanked and Sec. 8 could bring stability provided they are good tenants.  Our multifamily would have one unit section 8 and 2 other floors not section 8.   3rd floor tenant has lost his job in light of COVID-19 so he may end up leaving.  2nd floor is stable from what we know.  

We don't have experience with section 8 at all and also section 8 and Cleveland Heights.   

Our understanding too is that Cuyahoga courts, in light of COVID-19, will not allow evictions so having a non section 8 that doesn't pay (i.e. loses their job) isn't what we want either.  

Appreciate thoughts and considerations.  Thanks, BP.

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