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Anyone a landlord? Section 8 question
We decided enough was enough and we were done trying to sell out house a 40k loss, so we rented it out. We knew someone looking for a place and they signed a 6 month lease. Everything was fine, but it's up at the end of Aug so we put our "feelers" out for out next renter.
Just to see what would happen, we posted on Craigs List. In less than 2 days we had 10 people who were very interested and wanted to see the place. Unfortunately our renter isn't on board with us showing the house while he lives there, so we pulled the listing and will re-post it closer to the end of his lease.
Anyway, about 1/2 of the replies asked if we took Section 8. We never considered it, but the more we read the more it's looking like a better option. Not only is most of the rent being paid directly by the gov't, but there's an incentive for the renter to keep the place clean because they can get booted from the program if they don't. Also, the house is located in an area where Section 8 tennants are the norm.
Does anyone have experience renting to Section 8 tennants? We're in NJ, but I think the rules are the same anywhere. I'm curious what the timeline is -- since HUD does their own inspection prior to the tennant moving in.
We were hoping to not miss a month with a renter, but our renter moves out Aug 24 - I'm not sure if it's realistic to have someone ready to move in September 1st. We also have to get a new CO (which can only be done if the place is empty).
Re: Anyone a landlord? Section 8 question
The house in question is in a very poor city, it's a twin (semi-attached) on a street full of row homes. Most of the houses around our house are rentals -- very few people live in the houses they own, which is why we needed to get out.
So, I'm not so concerned about bringing down the neighborhood -- it's already down... waaaaaaaaaaay down!
They are not allowed to destroy the house, or they will losing their Section 8, so there's a little incentive to not destroy it... I hope!
Thanks for the input!
Oh we'll if that's he case, go for it! (Is that terrible) I know in my city, Cleveland...renting to section 8 on some of the poorer neighborhoods is One of the only option to make your monies back. The city is just run down and there's so many empty homes, no one would BUY in those neighborhood ya know? A lot of people are just stuck with homes they don't want but can't sell
They may not trash is as far as rripping out the copper, but Ive seen their living conditions may be less than desireable. Roaches, ruining carpet and stuff like that. I mean I guess it's not a HUGE deal for the landlord to fix if they know they will get their rent every month... And like you said if they trash it that bad, it's easier to make them leave
I don't know anything about section 8, but had to pause where you said your tenant won't let you show the place. Umm he doesnt have a choice unless your lease is the weirdest lease I have ever seen. Almost all leases have a clause allowing a landlord access to the property for repairs, showings, etc so long as proper notice is given. If there is no clause regarding this, I would certainly include this in your next lease agreement. If there is a clause in this in your current lease, give him 24 hrs notice and tell him to deal. I do believe in curtesy like trying to schedule all showings for one or two nights of the week, and not at rude hrs like 7 am or 10pm, but for a tenant to just deny access to the property is outrageous and out of line.
eta: Have you seen the place lately? Maybe he is resistant to let you in there becasue he has trashed it or keeps it in poor condition? All the more reason to get in there asap. You shouldn't have to go a month without rent because he is being unreasonable.
There is wording in our lease to let us in with 24 hrs notice, and because we haven't been in there since March we are going over Friday after work. My concern is that I imageine (being a single 25 y.o guy) that the house is a mess -- not that he has holes in the wall and stains in the rugs, but just dirty. I wouldn't want to show it in that condition anyway. I'd rather have him out and have the place clean when I show it. If it's in good shape we will press the issue, reminding him what the lease he signed says, but there's a chance he will deliberatly leave the place a mess, which won't help us in trying to rent it out. I don't want to scare people away!
While it may be that there is some notion that tenants can lose the Section 8 if they don't keep the place clean, I doubt how easily enforceable that is.
Also, it is so incredibly difficult to get certified by HUD via your city's housing department to be allowed to accept a Section 8 certificate. Cities are only granted a fixed number of certificates, and there are very rarely openings. You have to pass a very strict inspection. You don't just get to decide that you want to be involved in the program.
I've worked with HUD professionally for years, (not currently, and not recently, but I doubt it's terribly different) and the amount of paperwork and level of regulation will be surprising, not to mention the interface with your city's housing department, which may or may not be next to impossible to deal with and/or very politically connected.
It may be worth further looking into through your city, but I wouldn't count on it being the way you go.
HA. you are crazy if you think section 8 tenants wont trash your house.
This is kind of true. My MIL and her husband do a lot of Section 8 and they are constantly evicting people and cleaning up disgusting messes. Some people even abandon the homes and leave pets behind. If you decide to go forward with it, just keep in mind that it might be more than you bargained for.
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