How to Rent to Section 8 Tenants and Be SuccessfulComply with state and federal law. You must agree to comply with state and federal equal housing,non-discrimination policies. …Your location. Consider your property location. …The advantages. The advantages of accepting Section 8 tenants often outweigh the disadvantages. …A disadvantage. …Apply the same screening standards to everyone. …
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What happens when you rent to a section 8 tenant?
When you rent to a Section 8 tenant, you will have to deal with frequent inspections of your property. Your local Public Housing Authority will send a Section 8 inspector to your property once a year. This inspection has to be done even if there has been no tenant turnover.
How do I apply for Section 8 housing?
If you have a specific property that you believe meets Section 8 guidelines and you would like to rent to tenants in need of affordable housing, you can apply to have that property (and any others you have) to be part of the Section 8 housing program. Contact your local PHA office.
How much will the Housing Voucher pay for Section 8?
The amount of the housing voucher will be between 90 percent and 110 percent of the Fair Market Rent. Depending on the condition of your property and the Fair Market Rent HUD has calculated for your area, you may be able to rent your property for a higher amount to a non-Section 8 tenant.
What do you need to know about Section 8?
Section 8 is a rental assistance program run by the government. There are different procedures and requirements a landlord must follow when renting to a Section 8 tenant than when renting to a tenant who does not receive this housing choice voucher. Learn six risks that a landlord may face when dealing with the Section 8 program.