A question owners often ask property managers: “Would you consider doing Section 8?”
A question often asked by potential tenants: “Do you take Section 8?”
My answer to both? No.
What is Section 8? Basically it is a housing voucher program that provides rental assistance for qualified applicants – in other words, ½ of the rent is guaranteed to be paid.
Whether or not you decide to accept Section 8 housing – is completely a business or personal decision – but make sure to know the facts ahead of time.
Here are some (not all - just some!) things to know about Section 8:
Your home has to qualify and pass inspections to be approved for Section 8.
The program does not screen tenants - you have to do everything you would usually do as a landlord, ie., screen tenants, maintain the home, etc., PLUS you have to fill out Section 8 paperwork, follow their guidelines, etc.
Section 8 does not pay for security deposits or damages to the home.
If a tenant doesn’t pay rent – and you have to evict – you get no assistance from the Section 8 program. And this is the number one reason why I do not take Section 8. In Arizona, if a portion of the rent is paid – it’s considered good faith and part payment. In order to begin eviction – a tenant has to have not paid any rent – at all. Can you see the issue here?
Should you, would you, could you take Section 8? It depends on a lot of things – just make sure you do your homework and know what you are getting into before saying “yes”.
Buying or selling Tucson real estate, Mt Lemmon, Tucson bank-owned homes, Tucson rental homes, or Tucson lease option homes? Visit www.KGCPropertiesLLC.com .
This blog is written with my opinions and my opinions are presented with
accuracy but not guarantees. Please talk to a professional before making any real estate, financial or agency decisions. Gabrielle Kamahele Rhind - 2014. If you want to reprint parts of this - just email me for my permission: KGCProperties@gmail.com .