Has anyone looked into or actually tried turning some park owned homes into section 8 housing? We are considering this option to help fill vacancies in our park.
I have done this with many of my homes, especially in the small parks that I own as well as with some of my land/home packages.
From what I have heard after speaking with many landlords around the country, section 8 is only as good as the local administrators. In my county we have a system that is fair. It is not pro landlord, nor is it pro tenant. I can work with this.
There are many advantages to using section 8 and some that you might not have thought of. For instance we had a tragic fire in one unit and initially the tenants made all kinds of wild claims that the property was dangerous and run with slum lord policies. This claim was quickly extinguished when the investigators found out that section 8 had conducted their independent inspection only months before, checking all electrical outlets etc. and the only problem they found was a torn screen which they requested (and was) replaced. Having a 3rd party, government agency as our inspector certainly helped us. It was later determined that the tenants kids had accidentally started the fire by smoking in bed while the parent was away (she could not be located for 3 days after the fire and did not know of the tragic loss her family suffered). No civil suit was filed after all this came to light.
We have found that we now use section 8 standards as the basic, min standard in all our units and as such have safer, more marketable homes. These standards are not hard to comply with by any means. Yes, from time to time we get an odd repair request but for the most part they are not unreasonable by any stretch.
Based on what you have said about Section 8, I checked my rates and found them above what the prevailing rates in the county.
I checked a one bedroom. Section 8 reimburses $542. I have a 2/1 rented out for $500.
As for a three bedroom, Section 8 reimburses $854. I have a 3/2 rented for $700.
The rents that I charge are in the higher end of the rents in the county.
I have requested a information packet. Can’t wait for the mail. Driving down to the main office.
Thanks for the heads up.
I have found that the inspectors will adjust the rate down a bit since there are mobile homes so you will not necessarily get the highest rate.
The amount you actually receive is deceiving. Tenants will show up with a voucher for more than your home but the inspector and the section 8 folks then figure in utilities before deciding how much they will pay for your home. This can be confusing as it essentially adjusts the market rate by tenant and not just the home.
You have the right to reject a lower offer and seek another section 8 tenant who may have a higher voucher.
One more tip. When I advertise in the paper I ad “Section 8 welcome” and that usually does the trick.
I also list the property on socialserve.com which is the section 8 website (not all states are on this site just yet however). If your state is on I also recommend it.