Anyone a Section 8 landlord? Can you give me the pros and cons? Thanks

Question

Thank you for your input! Very helpful.

Answer 1

Pros:

Rent check (or direct deposit) every month

Cons:

Section 8 determines the rent amount

Section 8 requires their own lease

Section 8 will stop paying rent if there are repairs needed

Section 8 tenants are generally noncollectable if they cause damage pr fail to pay their share of the rent

Section 8 tenants get free legal advise to fight terminations & violations and delay evictions, while landlords have to pay for their attorneys

There are other issues based on personal experience. My experience is Section 8 tenants have the entitlement attitude, tend to cause above normal damages and tend to move others into the property, which is against Section 8's own rules.

Many Section 8 recipients do not pass proper screening. Not all, but many would not qualify to rent without their vouchers. One or more of these issues usually can be found - bad credit, past evictions, bad previous landlord references, criminal records, etc.

Answer 2

Pro:  THere are thousands of tenants who need Section 8.

You are doing a public service for poor people.

You get guaranteed rent and not many of us landlords get that.

Con:  If the rent is $675, HUD pays you $600.  Tenant pays $75.  The tenants know the deal.  If they don't pay, you won't evict  them over $75.So they never pay.

HUD does NO screening of tenants.  They will send you people who have never paid a bill in their lives and they won't pay you./