Section 8 teant better to self manage?

[Alex Moazeni]

Hi I have 2 rentals accupaid by section 8.wich is manage by my property management company.

I'm trying to take it over and do it by myself

I also have a few more rentals non section 8 manage by myself.

Question is I do know how to deal with my regular rentals but kind of scary to deal with section 8 paperwork.

Is it a big deal if I take them over and do it by myself?

Anyone has section 8 doing himself and if it is complicated?

Thanks in advance.

[Richard F.]

Aloha,

Here is a link to most of the forms you will see when dealing with Section 8:
https://www.hud.gov/program_of...

Here is a link to current Fair Market Rents:
https://www.huduser.gov/portal...

Actual Section 8, or Title IX programs all use the same forms. Local Government programs may have variations.
Complicated? Not really. Time consuming? Yes. There are inspections to be made which you need to attend, including renewal inspections so you can challenge the inspector if they try to fail you for tenant damages. You will wait up to two months for your first payment. They will NOT remove a tenant that has violated the terms of your (or their) contract. They simply remove them from the program, which means your "guaranteed" rent payments will stop, and you will need to hire an attorney to actually evict the tenant. This is why it is SO important to properly screen prospective tenants, regardless of their source of income.