Never pre-judge. Always pre-screen. Words to live by if you're a landlord considering accepting Section 8 vouchers.
This evening I was audience to an interesting interchange regarding the virtues of section 8 housing. "Guaranteed rent check," one of my fellow investors said. Got me thinking... So I did a few internet searches and here's a quick sum-up:
Section 8 is a Federal assistance program adminstered by the Department of Housing and Urban Development (HUD). There is an application process for the landlord and the property needs to meet certain standards. This is to ensure a safe and functioning home for the tenants.
To a landlord, Section 8 can be a dependable revenue stream and the landlord is still able to screen the tenants before they move in. In fact, the most emphasized portion of tonight's exchange was: Always call references and pre-screen your prospective tenants. The one fact that pleasantly surprised me was that Section 8 tenants are no more better or worse than any other segment of the tenant population.
For more information on the program, check out these links:
Section 8 Rental Voucher Program - HUD
Information for Landlords - HUD
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment