When to Accept Section 8 Rentals
by Fred Jomillia
Are Section 8 rentals right for you? Like many things in life, there isn't a straight answer to this question. Let me share why I decided to become a Section 8 landlord in the first place.
To being with, my rental property was sitting in a lower income neighborhood and I had problems finding tenants who were willing to pay my asking rent. Then I had a single mum with section 8 vouchers approach me - That was when I started considering section 8 tenants to expand my pool of potential renters.
My rental property had also undergone major maintenance just 6 months before so I would have no problems passing the compulsory Section 8 inspection. As expected the inspection took just 20 minutes and the only issue that popped up was a missing key for one of the front windows.
If you are accepting Section 8 tenants, be sure to screen them carefully just like all other applicants. I will recommend that you run credit checks on them to make sure that they can afford the remaining rent. If they have little or no credit history, then ask for their income sources and employment records.
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