As a landlord, you’ll have the opportunity to consider whether or not you want to accept tenants who are part of housing assistance programs. Section 8 is the most well-known program for people who need housing help. There are benefits and challenges involved in Section 8 and programs like it.
What is Section 8?
Section 8 helps people with housing assistance when they cannot afford to pay rent on their own. There are also other programs and smaller services, and many landlords wonder if it’s a good idea to accept Section 8 tenants. That is really up to you. There are good and bad things about housing assistance programs.
Section 8 and Rental Payments
I have been doing property management in Phoenix, AZ for 12 years, and what I do know about Section 8 is that your rental payments will come in like clockwork. It’s set up through the government, and sometimes there are hiccups or delays in getting your initial rent, but for me, only once has there been a problem that required a fight.
Section 8 and Property Condition
The other good thing is that tenants who are on Section 8 or receiving housing subsidies are usually required to take excellent care of the house. Otherwise, they lose the subsidy. I have seen the bad end of that; there have been people who didn’t know how to take care of the house or couldn’t afford to keep it clean. So, sometimes houses are in bad shape after renting to a tenant with housing assistance, but I’ve also seen houses in bad shape after a tenant with great credit lived there.
You’ll have to decide whether it’s worth the risk. Your tenant may not know how to take care of the house, but you’ll get the rent reliably every month.
To discuss whether to accept Section 8 tenants in more detail, please contact us at HomeQwik. We’d be happy to share our experience with Phoenix property management.