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Updated almost 5 years ago, 03/20/2020
Converting property to section 8 in Cleveland Heights ?
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.