Section 8 (also known as the Housing Choice Voucher Program) is a federally funded housing program that offers rent assistance to those in need. under which the tenant pays 30% of their income in rent and Section 8 pays the rest. Participants are chosen via a lottery system and must look for their own lodgings like any other apartment seeker
If you would like to be put on the list of Section 8 dwelling providers, you must contact your local housing authority who will first inspect the property before tenants are permitted, but will require no special effort on the part of the landlord. There are however a few criteria which must be met:
- All living rooms must have at least one window which must open (not be painted shut), and has a lock. Additionally it must have either two outlets or one outlet and a light fixture
- Bathrooms must have a window and either two electrical outlets or one electrical outlet and a light fixture
- Bedrooms must have windows no more than 48 inches from the floor (this will rule out most basement apartments).
- There must be a carbon monoxide detector and a smoke detector installed
- No double key locks permitted (deadbolts that lock with a key on the inside and the outside)
You must otherwise simply make sure the apartment is move-in ready when it is inspected, but you should note that the dwelling must be empty and the utilities turned on.
There is a fair amount of debate as to whether Section 8 is a good deal for landlords, and there are some pros and cons. Here are a few things you should keep in mind:
- Section 8 tenants generally have bad credit or no credit, and unstable work histories. This is not the end of the world, but you must be prepared for them to start falling behind. But remember, even if the tenants quits paying their portion of the rent, you will always get the government portion
- Section 8 will not address any damage the tenant does. You will need to negotiate a security deposit when the lease is written up
- Section 8 tenants cannot pay more than 40% of their income as rent. If you wish to raise the rent above that, you must get approval from Section 8.
- Tenants are screened by Section 8 any recent crime history, but the landlord will be responsible for screening the tenant as she would with any other tenant
There is a lot of anecdotal evidence as to whether Section 8 applicants make good tenants, but the fact is that no blanket statements apply. The most important thing you can do is screen as carefully as possible. Get references from previous landlords. See how they are dressed and how they comport themselves. Most other things pertaining to regular tenants applies to Section 8 tenants. You must write up a lease, you must do the usual background check, you must repair things in the apartment when they break. Additionally local eviction laws apply if things don’t work out.