November 19, 2012

Section 8 housing

Is section 8 housing worth the trouble? The answer is yes and no.
The positive side is:
(1) the tenant must sign a 1 year lease
(2) the tenant is responsible for any damages that they have done
(3)you have an opportunity to view the property at least annually
(4)general maintenance is done at least once a year
(5) undesirable tenants can be recognized and the lease can be terminated
(6)smoke alarm batteries and furnace filters are checked annually.

The negative side is:
(1)the inspections add an extra cost to the property
(2)the housing inspector can side with the tenant on some damages
(3)the agreement with the housing authority can over ride your tenant agreement
(4)tenants can bring in unwanted pests (insects also) that can be expensive to remove

Is it worth the trouble, in my humble opinion, yes. You have a guaranteed rent amount as long as both parties are in compliance. You property has a better chance of being protected. You also have another set of eyes looking over your property investment.

Landmark Group has an excellent reputation as a section 8 representative for the property owner, the tenant, and with the Omaha Housing Authority.

If you have any questions or concerns about renting your property through the section 8 program, please contact us and we will be more than happy to answer any questions you may have.

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