Renting Section 8 (Philadelphia, PA)

[Simond Wong]

Hi BP Fam! I am just starting on this journey in real estate and I am loving it so far. I am based in South Philadelphia. I am interested in hearing about your experiences with Section 8 Tenants, specifically:

1. Why did you choose to work with Section 8 Tenants?

2. What are the pros of working with section 8? 

3. What are the cons of working with Section 8?

4. How do you vet and interview your Section 8 tenants? What are specific questions you ask and specific attributes you seek in finding the right fit between tenant and landlord? 

5. Since we are 2020, what are some things you've wished you'd known prior to getting into Section 8, so that it would have made your experience more positive (hindsight 2020)

Please would appreciate your feedback, and hope to hear from you, thanks!

Simond 

[Sheryl Sitman]

@Simond Wong  I try to maintain part of my portfolio to be section for the guaranteed income and long term tenants. Each tenant is different of course. PHA is a bit tough to work with. Good idea to go over there and try to talk to them. Best advice is to review the requirements of section 8 and get the house ready for inspection. Taking a section 8 tenant will take you longer than a non-section 8 since once the tenant chooses your property, you have to do the paperwork, submit it and wait for an inspector... And every inspector will find something that needs to be remedied, no matter how small. In addition, you could get a low ball offer on the rent. I have received above what I asked and below. Take note - you CAN negotiate. Good luck!