What are your views and feeling on when it comes down to renting to section 8? Do you think it is a good idea why or why not? What do you think are the pros and cons?
cmiller, kindly elaborate further what section 8 is, either am living under a rock or....for i really don't know what that means.
Govt subsidized low income renting. I've heard good and bad - good mainly being that since the govt pays most of the rent, you're always going to get most of your money when you rent it out. Among the bad I've heard is a huge amount of paperwork and a high number of less-than-ideal tenants.
Personally I wouldn't. You asked why or why not, and my why not is nothing more than the horror stories I've heard. I suspect there are just as many good stories, but I haven't heard many of them. I don't know much about this, but I'm wondering if a landlord has as much say over tenant matters (such as eviction) when the government is involved. I mean as it is now, if our tenant trashes the house or starts doing something illegal, out he goes. I'm not 100% sure that we could say "sorry, dude, you'll have to move in 2 weeks" or if we'd have to go through section 8 hoops first. And another thought... do you even get to choose your own tenant if you're section 8 housing?
I would go for it, because you are guaanted that you will get your rent, though the government may pay their part, yet the customer may not so it good and bad , but I would go for it.
To be candid, I wouldn't touch it with a ten foot pole. I've read and scene about way too many bad things done at such places so, no thanks.
I would stay away from section eight renters. My family has a lot of rental properties and those that have section 8 tenants are very hard to keep up, and the government guarantees part of the rent...they don't guarantee money for repairs.
It is a good option for a renter because of the steady rent payment and the strict rules applied to the renter from the housing program. However, the downside is that you as a renter must make sure the rental home is in pristine condition and if not. You have a short time to get the repairs completed.
