Section 8 Pandemic Proof #RNTMNY

[Carmelo Oliveri]

Ive been a REI over 20yrs and primarily focused on low income housing, 70% plus of our 300 unit portfolio are section 8 tenants. During this pandemic our collections have been well over 95% even with our cash paying tenants. As many are aware tenants on housing vouchers dont alway get 100% of their rent paid because they work part time or FT jobs and HAP contract amounts are based on their income. Many of our section 8 tenants did lose their jobs and luckily for us they just reached out to thier caseworkers and adjusted they amounts tenants paid(decreased) and housing paid (increased). Hearing from other LL's and watching the news, our low income strategy has been recession proof, pandemic proof and overall great sustainable model.

Carmelo Oliveri

#RNTMNY

www.REI4Dummies.com 

[Ray Fisher]

Originally posted by @Brian Garlington:

@Ray Fisher    What is happening that cause your Section 8 tenants want to move out after only 1 year? The LEAST amount of time I have ever had a Section 8 tenant live in one of my places is 4 years and I have them in the San Francisco Bay Area as well as Cleveland, Ohio. With all due respect, you have to be doing something wrong if they are consistently wanting to move out after only a year. 

I guess your right Brian i'm not a professional like you! I will run mine you run yours. I get tired of 2 to 3 grand damage evey time they move out.  I have a lot of long term renters.  just choose not to put up with the problems.