To Section 8 or Not To Section 8?

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

Salt Lake Real Estate - What's the Skinny?

As with anything, it is the unknown and the fear that goes with it that causes the inevitable paralysis of analysis. Real estate in Salt Lake is no different...

But let me tell you this: THERE IS NO TIME LIKE NOW. This is true when you're talking real estate. As long as the numbers work, it's ALWAYS a good time to buy OR sell.

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The purpose of this blog is to share information about the wild and crazy world of real estate. So much of what we here in the media these days focuses on what is going wrong. Here we focus on what is going right and how to build and grow from there.

Join me as we sift through the fact and fiction, pits and perils to create successful, profitable transactions through which we can hold onto and grow our wealth.