Landlords and property managers should know the tremendous benefits they can enjoy from placing their properties for lease under Section 8. The Section 8 program is the federal government’s major program with the objective of assisting very low income families, the elderly, and people with disabilities in managing decent, safe, and sanitary housing in the private market. This program is also known as the housing voucher program. This program is stronger and better than it ever was before.
As a landlord, you would like your property to be eligible Section 8 rental property, the first step to take is to list the property for free by getting in touch with the Housing Authority in your area. As soon as you have listed the property, Section 8 Voucher holders looking for a property will get the information about your property being made available. Your property will stay on the list for a certain period, and you will receive calls from the housing agency to see if your property should stay on the list. However, it would be better to inform the housing agency when the property is no longer available for renters. You can also state in your advertising that you welcome Section 8 tenants.
Landlords and property managers can benefit from taking part in this program. Here are just some of the known advantages of participating in Section 8 Housing.
• Landlords qualifying for Section 8 rental housing generally has lower turnover and lower vacancy rates. Since the Housing Authorities have a waiting list of tenants who are searching for Section 8 rental assistance, you will have a continuous flow of tenants, and your property will not sit unoccupied for a long period of time. This relieves you of the trouble finding people to occupy your properties. It also saves you money on advertising or in other case stop advertising, cutting down on your costs. Another positive side of this program is that you also make it possible for a family that may have been going through some hard times to get safe, sanitary and decent housing.
• Late rental payment should not be a problem here. Many housing agencies will deposit your rent check straight to your account. This would really save you a lot of time. You do not have to worry about getting your rental check late since rental payments are subsidized by the federal government, the rent you are due are more likely to be dependable and according to schedule. Also, Section 8 tenants value their voucher so they are not likely to pay late like unsubsidized tenants.
• Another thing that landlords can take advantage of is that certain income eligible clients qualify for monthly supplement utility assistance.
As you can see, you as a landlord or property manager participating on Section 8 Housing program come with tremendous rewards, not only monetarily but personal as well. This is a program you need your properties on today. So ask your local housing agency today how you can be a part of this program.
