SECTION 8 - allow these tenants? Pros and Cons?

[Amanda Dehaas]

Has anyone worked with tenants like this? Pro's and con's? Things to look out for? 

[Steve Vaughan]

Originally posted by @Amanda Dehaas:

Has anyone worked with tenants like this? Pro's and con's? Things to look out for? 

 I've had about 20% sec8 for years.  I screen them like I would anyone else except I basically reduce my income requirement to 2x or 2.3x rent from 3x since the bulk is covered.  

I also find them and HUD-VASH (Veterans) more stable in this virus and eviction moratorium environment.

I've heard a lot of one's experience with the program will hinge on your local HUD office. I have a great relationship with mine and they are very responsive via e-mail, just closed on Fridays.

Because of our good relationship,  I was able to place a new sec8 tenant April 1 while their offices were closed and without an inspection.  'We trust you and your properties. We'll inspect when we can".  A new landlord to the program will need to be inspected. Ask when that can happen before you get too far into it.