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Updated almost 4 years ago on . Most recent reply

User Stats

6
Posts
1
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Donald J Glidewell
  • Investor
  • St. Petersburg, FL
1
Votes |
6
Posts

Closing on a rental with Section (8) tenant - thoughts?

Donald J Glidewell
  • Investor
  • St. Petersburg, FL
Posted

A number of properties I look at in St. Petersburg have Section (8) tenants.  Common advice is to have the rental vacated before close so you start with your own screening and acceptance of the tenant.  If the seller is representing tenant has been good from a hassle factor perspective and you have the government paying the rent, seems like it might be safe to keep the tenant in place, avoid some vacancy and create a stronger offer by accepting an existing tenant.   Any horror stories or happy endings anyone can share?  Thanks

  • Donald J Glidewell
  • Most Popular Reply

    User Stats

    80
    Posts
    22
    Votes
    Nitin John Abraham
    • Rental Property Investor
    • Oakland, CA
    22
    Votes |
    80
    Posts
    Nitin John Abraham
    • Rental Property Investor
    • Oakland, CA
    Replied

    I have a bunch of S8 and other voucher program tenants in my properties. @Nathan Gesner made a great point.  Paying rent alone does not constitute a good tenant in my books. i would like to make sure that the home is maintained in arelatively decent shape.

    1 of my properties that i bought with a S8 tenant in it is in rough shape, i have done some improvements in it for the resident but they just continue to run it down. However they have no demands and love to live there, in that case my perspective is to let them live there till they decide to move. in that time they will help me pay down a mortgage and help me save for a future renovation of the place while the home appreciates.

  • Nitin John Abraham
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