All Forum Posts by: Marylyn Patankar

. First, a lot of people with Section 8 vouchers end up staying in the same neighborhood because it’s where they feel comfortable, where their family is, or just because they know the area. This can be a problem for landlords because if no one is moving to new areas, it becomes harder to find new tenants for available properties. As for the funding, yes, the government can run out of money for new Section 8 vouchers. If this happens, new people won’t be able to get vouchers, and landlords may have fewer potential tenants to rent to. Lastly, while Section 8 tenants can technically apply to any home, it has to be approved for the program, and not every property is eligible. Many landlords also prefer to rent only to Section 8 tenants, so it can be harder for voucher holders to find the right house unless it’s specifically listed as "Section 8 welcome." So, while Section 8 can be a great program, there are a few challenges for both tenants and landlords to consider. Hope that clears things up a bit!

I’m sorry to hear about the flooding in your rental property. If the house isn’t safe to live in because of damage, here’s what you’ll need to do. First, make sure your tenants are safe and have a place to stay while repairs are being made, or you can break their lease if the lease allows due to "acts of God." Once they’re taken care of, you’ll want to take lots of pictures and videos of the damage to show your insurance company. This helps them see what happened so they can pay for repairs. If the house is really damaged and can’t be lived in for a while, you might need to end the lease with the tenants. This means telling them in writing that they don’t have to pay rent anymore since the house isn’t safe.

Next, you’ll need to call your insurance company and let them know about the damage. They’ll send someone to look at it and (hopefully) help pay for the repairs, but you'll likely want to use an aggressive private adjuster that is going to advocate for YOU. 

  You’ll also want to start fixing the house by hiring good workers to make it safe again. This can take time, so be patient. If you have a property manager, they can help you a lot with this process. They can talk to the insurance company for you, make sure repairs are done quickly, by licensed professionals,  and keep your tenants updated (if needed). They can also handle all the paperwork and help with any legal stuff you might need to know.

One thing that can help you and your tenants in the future is making sure your renters get renter’s insurance. This helps cover their stuff if the house gets damaged, and in some cases, it can even help them pay for somewhere to stay while repairs happen. Some renters’ insurance can also help add more coverage to your property’s insurance. That way, if something like this happens again, both you and your tenant will have extra protection and support. 

Yes, rents have been decreasing in certain areas, and it’s definitely having an impact on how landlords are handling tenant approvals. With rents cooling off, some landlords are becoming more desperate to fill vacancies and may be more inclined to approve tenants who don’t quite meet all the usual criteria. This is particularly true in markets like ours in Pasco, Pinellas, and Hillsborough counties, where we manage a variety of properties ranging from Class D neighborhoods to more upscale Class A properties. While the "type" of neighborhood can sometimes make tenant approval criteria a little more flexible, we always try to avoid making desperate decisions that could lead to future evictions.

The rise in evictions that you're seeing could be partly due to landlords lowering their standards to fill units quickly, which might lead to issues down the road with tenants who can't pay rent consistently or have a history of instability. Additionally, the increasing cost of living in Florida is definitely contributing to the problem. With housing, utilities, and daily expenses climbing, more tenants are finding it harder to keep up, which can lead to payment issues and eventual evictions. While it’s tempting to make exceptions to get someone into a unit, we’ve found that it’s better to hold out for more qualified applicants who are more likely to stay long-term without creating problems down the line.

Hey Calum, great question! 
I think the key is to do it in a way that feels fair to both sides. As a general rule, many landlords raise rent 3-5% per year, which is a more gradual and manageable increase.  This approach lets you get closer to the market rate over time without shocking the tenant, especially since she’s been a good tenant.

It’s also a good idea to explain to the tenant that you’re trying to bring the rent in line with current market conditions, and if she’s open to a longer-term lease, you could even keep the rent at the current level for another year. The last thing I would want to do is upset a tenant that is paying on time.  Keeping the increase reasonable and communicating openly can help maintain a good relationship while still addressing the rent gap over time, just be honest with them and maybe present some comparisons. I'm sure at this point they know what a stellar deal they are getting, its only a matter of time before the rent rises. 

Considering you have just bought this property and inherited the tenant, I would also consider finding some ways to be in good standing with them before proposing the rent increase, they might not take it so harshly. Best of luck! 

Absolutely agree with you here! It’s unfortunately common for property management agreements to have those hidden fees, but I’m proud to say that my approach is all about integrity and transparency, and I'm sure many others are too. I’d love to connect further on this topic and offer any advice if you need it. Wishing you the best in your self-management journey, but remember, a good property manager can still be invaluable, especially if you’re not familiar with the legalities of property management.

It’s definitely frustrating to deal with a situation like this. In certain neighborhoods, squatters in vacancies can be inevitable, regardless of who is managing the property. Your property management company should be doing their due diligence to check on vacant units regularly, especially after a certain period, and keeping you informed during the vacancy.

Unfortunately, when it comes to damages caused by a squatter, those typically fall on the property owner, unless your management agreement specifies otherwise (it likely does not). However, your property manager should be able to guide you on legal options and solutions to secure the property and possibly help with claims for damages. It’s a good idea to discuss this with them to see what steps can be taken moving forward. The first step is always reporting to your local police department and getting a document that states that any unauthorized visitors will be trespassed immediately-- but in my experience, it takes more than just this to get the squatters out. Especially if they have informed their "friends" of the unit vacancy. 

In my experience, these are definitely considered consumables, so it falls on the tenant to replace them. In our leases, we specify that any routine maintenance or maintenance costs under $100 are the tenant's responsibility. This way, it’s clear that items like fridge filters and furnace filters are on them. It helps avoid any confusion down the line!

Section 8 can definitely be a hassle in Tampa! It often takes months to get your properties posted, and getting in touch with the Tampa Housing Authority is embarrassingly difficult. We’ve experienced situations where investors came to us from other property managers or when properties changed ownership, and it took about three months to get the funds dispersed into the right accounts.

That said, it can be worth the hassle! If you're looking to make it easier on yourself, consider hiring a property manager. They can handle the complexities for you. Plus, if you're using Section 8, you're likely listing your property above market rent due to the allocated vouchers. It really can be the best of both worlds—remaining a passive investor while still getting the ROI you want!

Hi Keleisha, if this is something you are still pursuing, I can get you in contact with a GC who is specifically looking to help people with consulting. He has been a licensed GC for 20+ years and has his Real Estate license in multiple states. Let me know!