The investors who buy properties often ask for your opinions on section 8 tenants and how it works. This article will explain briefly how section 8 works, its pros, and how to attract section8 tenants.
A brief overview of Section 8.
Section 8 is government assistance for low-income families to obtain affordable, safe, decent housing. Prospective Section 8 tenants must apply to the local public housing agency (PHA). The PHA issues a housing voucher to a tenant who is deemed eligible if they are at the top of their housing choice voucher waiting lists. Housing voucher recipients are responsible for finding their rental housing. They receive vouchers from their housing agency to help them pay rent. You can also search online for Section 8 home in Washington County.
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Pros of Section 8
Payments on Time: The best thing about the government is that they pay on time every month! No chasing your money each month. It is delivered to your mailbox every month on the first day of each month.
Section 8 leases are usually for 1 year, but sometimes they can be extended to 2 years. The tenant may break the lease or move but must first locate the new property. Tenants tend to stick to the terms of their contracts if the landlord maintains the property. They will often renew the lease to avoid going through section 8.
You can also search online for Section 8 Housing in Washington County.