I am advertising my latest acquisition for rent. Someone at the Section 8 office must have read my ad and has told every Section 8 applicant to call me. I need a quick answer.
I believe I have read that I can state that “I do not accept Section 8.” Is this true and why? I will run a search, but it will be great if the Forum can give me a quick absolute answer. From the horror stories, I do not want to deal with Section 8.
If you were in my area I would simply have you give each and every one of them my number.
Horror stories surround investing and in particular landlording in general. Somebodies cousin’s, ucle’s, neighbors, aunt … you get the idea.
You didn’t let those stories scare you away from investing, why would you run now?
You are missing out on a great opportunity to reduce most landlording headaches. Don’t let fear of the unknown scare you away from a viable market.
Do what you have done here and educate yourself on the pro’s and con’s and how to play the game by the rules.
Tony
HI,
I have section 8 in my MHP in Arkansas, the tenants stay longer than regular tenants, the section 8 inspections are easy and do not cost a lot. Only problem is they try sometimes to reduce the rent but stand firm for what you want and show them comps in the park or nearby.
Now, there are horror stories and I have plenty of them myself from other states where I have rentals. THere is a section 8 bible out there that you can get hold of. Buy it soon. Do not be afraid, you get your money on the 1st from Section 8 and then you or your manager has to collect the rest.
Each office is different, if you live close by the section 8 office go and make friends with them soon and see what they want.
The answer to your question is that you do not have to accept Section 8 tenants- end of story.
I do have a Section 8 horror story (from a stick-built house, not a MH), but it is the exception, rather than the rule. Lots of people make great money off of them.
Anne
This is probably the best place to post this instead of opening a new thread. In my test ad for the mobile home park that we have under contract, I’ve been getting a few Section 8 calls (I think 3 out of 25 in two days).
The question is, if you had your choice, would you stick to the non-Section 8 customers, or would you rather have Section 8’s?
Is it a more secure payment than non-Section 8’s? Will the type of people lower the standards of your park if you are trying to spruce it up a bit?
Love to hear some experience comments.
Thanks,