Massachusetts section 8 landlords

[Paulo DaSilva]

Good morning BP fam,

I am looking into getting some first-hand advice on the pros and cons on being a section 8 landlord, especially in MA. I am hoping to pick up 4 3 family units in Worcester and convert them into section 8 housing. Does anyone have any advice, personal horror stories or any hidden benefits of doing this?

My reasoning for wanting to do this is the consistent market value rent I will be getting without having to turn these units into class A-B level units. 

Any and all advice/stories will be beneficial!

Thank you in advance,

Paulo DaSilva

[Paulo DaSilva]

Originally posted by @Lien Vuong:

@Brian Lucier would have some stories I'm sure!

Pros of Section 8 rentals are that they're sitting pretty regardless of the market condition as they're competitive market rents with the government securing the balance irreverent of the tenant's employment status and financial landscape. For example, if they're responsible for 20% of the rental rate and they prove inability to fulfill that, Section 8 will absorb that cost on their behalf and direct deposit into your account. 

Cons would be the specific tenant class and high wear and tear of the units as they typically have a lot of children and move 3-4 years so there's the use and abuse of children running around and touching your unit. 

My best advice for you is to NOT dismiss the Section 8 program as one way or another but rather screen the TENANTS - make sure they fit the criteria of who you're looking for. Are they respectful people? Clean? Work ethic and sound judgement are important attributes also. 

Please be careful when address Section 8 vs Market Renters also as you cannot target specific rental classes per Fair Housing Laws so make sure you're being fair and practice without bias. 

 Lien, thank you for the input. What I took from that is that there are great benefits as long as my screening process is done thoroughly.