Section 8 Investment

[QSEQB6]

What is the name of your state (only U.S. law)? Tennessee

Anyone owning Section 8 homes and collecting rent, could you share some of your wisdom with me as what to watch for and what sort of legal and financial prep one must have? I'm thinking of buying an S8 home that's already tenant occupied, but I'm pretty sure it's not as simply as just collecting the rent money. I'd be interested to learn, ie, tenants interactions or complaints, late payment, how to get up to S8 code, etc. Thanks in advance.

 

[DeenaCA]

I'm pretty sure it's not as simply as just collecting the rent money.

That's correct. The regular duties of a landlord (subsized or unsubsidized) extend beyond cashing the rent check. Here's a link to the contract you would be required to execute ("HAP contract"): http://portal.hud.gov/hudportal/documents/huddoc?id=52641.pdf.

Here's a chapter from the voucher program guidebook that addresses inspection standards: http://www.hud.gov/offices/adm/hudclips/guidebooks/7420.10G/7420g10GUID.pdf. Here's the inspection checklist: http://portal.hud.gov/hudportal/documents/huddoc?id=DOC_11775.pdf.

 

[FarmerJ]

There are many older postings about this subject that many of us have posted about. Try reviewing some of the older postings using search function.