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How about buying property with section 8 tenant in?

I've seen some properties with section 8 tenants in and they pay good rental. I also learned this kind tenant will be stable and most o them will be long term tenants. Any downside of having this kind tenants?
  • April 05 2013 - Las Vegas
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Answers (6)

I have never bought a home that had a section 8 person in it, however I had a tenant that applied for it and received it. The problem I have with Section 8 is that an independent company does the inspections and was worried about the paint that was pealing off the outside of the windows. Also, my tenants moved the refridgerator and pealed up a 2 inch piece of flooring. The section 8 company wanted me to redo the whole floor. Good program, just sometimes hard to work with.
  • September 03 2013
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There are many benefits to renting to section 8 tenants.  As you mentioned you're looking for any downsides.  The only downside is that unlike self paying tenants, most section 8 agreements will require you to comply with bi-annual inspections, and if the inspectors want you to repair or fix anything, you will usually be given 30 days to comply or you will stop receiving rental payments from the housing authority facilitating payments.
  • September 03 2013
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you would have to honor the remaining term of the lease, however it is a plus if  the tenant is section 8, i manage several properties and when we had that situation we had to contact section 8 to make the transfer of ownership and continue with the same tenant, remember section 8 leases auto renew every year, and if you want them to vacate the property you have to give them plenty  time in advance  to move out.
  • September 03 2013
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Profile picture for RealEstateCrew
The new owner will need to become a section 8 approved vendor prior to closing, if that new buyer would like to continue to benefit from the section income. 
  • April 06 2013
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Profile picture for Ofe Polack
People are people anywhere in the world, and not two are alike.  Since the rental comes to you directly, that in itself is a benefit.
  • April 06 2013
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Each tenant is a case by case. The only plus is your rent is guaranteed every month. They are people. You have good and bad. Just do your interviews as you would any other and listen to your gut.
  • April 06 2013
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