Current tenant approved for Section 8. What should I do?

[Brandon Malone]

Last year I had a tenant apply for a two-year lease on one of my rentals. She had really good income. Single mother with three kids. One year into the lease, she informs me she's been approved for Section 8 with a voucher that is about $600 higher than the cost of her rent. I certainly don't mind HOC, however it will be the first time renting to someone on HOC. I'd like to get advice from folks on here the best way to handle the situation. Do I have to re-do her lease? What requirements and or things should I be aware of as I try to determine how to sign up with HOC to receive rent from them for her. Any advice?         

[Robbie Young]

@Scott M.

I haven't done section 8 in years but don't do it unless you are getting above market rent for your unit. It's not worth the hassle. The forms and waiting. The having to fix things the tenant broke. I stopped when the local office where I am at went from annual inspections to quarterly inspection. It was too much hassle for too little pay. Some landlords plan on their unit being section 8 where they rent a C quality unit for an A or B quality price. Also consider your property. If you have an old house with wooden windows they are going to stick and HUD will list it for repair. You can have a hole the floor but not a sticking window. If your property is older then it may be more hassle than you expect and may want to avoid HUD.