Looking to fill nagging property vacancy but not sure how to find the right tenant then consider renting to Section 8 tenants.
Section 8, a government assisted housing program, provides low income families and individuals the opportunity to obtain housing they might not have been able to afford without subsidized help from the Federal Government.
Many landlords are quick to shrug off the idea, afraid the program will create additional hassle and work. But preparing your rental home for Section 8 is fairly easy. HUD and PHA require an initial home inspection, a cost they cover, to attract landlords’ participation in the housing program and because their main priority is to find suitable housing for Section 8 tenants.
HUD and PHA are concerned with 13 Quality Housing Standards:
- Sanitary Facilities
- Food Preparation and Refuse Disposal
- Space and Security
- Thermal Environment
- Illumination and Electricity
- Structure and Materials
- Interior Air Quality
- Water Supply
- Lead-Based Paint
- Site and Neighborhood
- Sanitary Condition
- Smoke Detectors
Passing inspection and opening your home to Section 8 tenants provides you with a huge applicant pool, one you would not have had access to otherwise. These tenants come pre-screened and are required to adhere to Section 8 rules and regulations to maintain their eligibility in the program.
Looking for more information on Section 8? See below.
Still not sure about Section 8? Check out this Bigger Pockets.com blog!