How to Quality for Section 8
Accurate Rental Price Data
Rent to Section 8 Housing
If you are a landlord or property manager who has had trouble filling vacancies, finding qualified tenants, getting paid on-time, or are looking to maximize your income from rent, Section 8 might be right for you. Section 8 is a federal government housing assistance program designed to help low-income families afford housing by paying a portion of the rent. There are pros and cons to section 8 for a landlord.
In Section 8, the tenant pays you a portion of the rent and gives you a government issued voucher for the remainder of the rent. You (the landlord) then presents that voucher to your local Public Housing Administrator and get paid by the government.
Guaranteed pay on-time because it is paid by the HUD (a portion of rent usually comes from the tenant as well)
Pre-screened and qualified tenants. It is relatively difficult for a tenant to pass the Housing Authority's screening so if a tenant is qualified for section 8 you will probably to fine renting to them.
More eligible candidates means higher demand and more likely to find a tenant.
Fair Market Rent prices include utilities, so your maximum income is (Fair Market Rent - Utilities Allowance).
Non-section 8 tenants may not want to live in the same building as Section 8 tenants.
Frequent inspections and difficult to quality as a landlord.
Qualify Your Unit for Section 8
If you have decided that renting to section 8 tenants is right for you, then then it is time to sign up for the program. Getting your property qualified can be difficult. There are multiple inspections and your property must be 100% up-to-code.