What are the benefits of renting to tenants in the Section 8 program?
Property owners who participate in the Section 8 program enjoy rent security. The portion of the tenant's rent paid for by public housing agencies is guaranteed. By accepting program participants, property owners keep vacancies low by filling empty units with pre-approved tenants. The program offers built-in advertising, and properties usually rent more quickly, with lower vacancy rates yielding more profit.
It’s important to know that accepting Section 8 also comes with some extra work. Large property management companies may find it easier to devote the additional time required to lease their properties to those with Section 8 vouchers.
Benefits of renting to Section 8 voucher-holders
- Consistent rent payments from the government
- Pre-screened tenants
- Constant tenant base, lower vacancy rates
- Less turnover
- Tenants are motivated to pay their rent portion
- Less delinquency
- Fewer evictions
- Better profit margins
- Free advertising
- Business support scholarship
- The satisfaction of helping people in need
Other considerations regarding Section 8 participants
- Rental pricing regulations
- Restrictions of Section 8 tenants
- Voucher payments not made until tenant moves In
- Tenants, not Housing and Urban Development or public housing agencies, pay security deposits
- Annual property inspections
- Section 8 regulations vary from city to city. Check with your local housing authority about specific rules. Find more Section 8 information here
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