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Do Landlords Really Benefit From Section 8 Housing

The renters assistance program offered by the government of United states called as section 8 housing is gaining importance these days. However, not many landlords are interested in participating in section 8 housing program because they have to deal with low wage tenants.



Advantages For A Section 8 Housing Landlord



If you are considering renting out homes and becoming a landlord, you should certainly consider the section 8 housing program because it has several advantages.



• To become a part of section 8 housing program, all you need to do is contact your local housing authority and fill the application. After applying, you need to allow them for inspection and you are done.



• Finding tenants when you have rental assistance program is a breeze. When you add rental assistance available with your housing ad, you are sure to get more responses and many people are approved to rent under section 8 housing.



• You can fix your rent as you wish and the HUD office will pay fair market value of your rent. This means that even with a low wage tenant, your rent will be credited to your account every month before seventh.



• Security deposit can be obtained from tenants before renting the house just like you rent out a normal house. This security deposit should also be a fair value and your tenant will get to pay this deposit.



• By participating in section 8 housing, you contribute something to housing placements in your area, thereby helping individuals to manage a decent living with their minimal income.



Landlords’ Concern



Just because you rent out your home under section 8 housing, it doesn't mean that your property is completely safe from rogue tenants. They can still damage your property and you have to face with difficulty while evicting them.



However, section 8 housing certainly offers some kind of protection. You can threaten the tenants that you will report them to the local housing authority when they damage your property. They will be afraid because once they are excluded from renters assistance program, they have to pay their whole rent. If your property is badly damaged, you can request housing authority to pay repair bills.



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