Renting to Section 8 in Maine

[James Alden]

I'm looking for any advice and or experiences with Maine State Housing Authority (section 8). I have a 12 unit building in Bridgton Maine and was thinking about opening it up to vouchers. The increase in rental rates I could expect is a significant amount and was wondering if it is worth the hassle of renting to Section 8. Can anyone give me their thoughts, experiences or, pros and cons on this topic.

Thanks in advance

Jim 

[Bethany Turon]

@James Alden There are a lot of pros to Section 8. There are requirements to be eligible to receive it, and there is oversight of the section 8 renter. Your tenant will know that if they do not treat the property well, their voucher can get removed. Add on guaranteed monthly payments and built in stress-free rent increases, what’s the con? Credit may not come back but is irrelevant if the voucher covers rent. Just make sure you keep properties up, there are standards for the landlords as well as the tenants.