You can't just go to a web site, you have to contact the housing authority in the area in which the house is located. They will inspect the house for compliance after you have found a tenant. They will give you a check list so that your home has no problem passing inspection.
You need to check the deposit guidelines.........I have rented to them and all though the rent was paid on time there were other issues.......if your heart isn't in this house you should be fine, if on the other hand you love this house.....then you better be real careful on the screening process for the new tenants. Many people on section 8 are wonderful.....others though, leave a lot to be desired and will essentially trash it. You want to make sure your deposit requirements cover the most common of damages.
2006-10-15 17:18:18
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answer #1
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answered by WitchTwo 6
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http://www.hud.gov/groups/landlords.cfm
Here's a HUD website, but it is not very helpful!
Try their answer desk, at (888) 466-3487.
If your City/Town has a "Housing Authority", call them. They can walk you thru the whole process.
My area doesn't have a Hsing Authority. We're rural, and our Dept. of Social Services issues the vouchers.
Ask for their packet of information for new Section 8 Landlords.
It's a Federal Govt. program, which means TONS of forms to fill out. Be patient, and use the above phone number for your questions.
Your basic deal, with the gov't is that you'll rent your house to a person who holds a Section 8 voucher , for a set amt. And, you'll receive part of your rent from your renter, and part of it from the gov't.
Once a year, the house is inspected. These are not in-depth
inspecitons. No peeling paint (int. or ext), good handrails on stairs, no rust on refrigerator, all kitchen range burners work, etc.
You'll want to check the total amt. rent you are allowed to charge.
It's based on location & number of bdrms. You retain all usual landlord rights/responsibilities (eviction, repairs, rent collection,etc.)
My opinion, Section 8 is NOT especially beneficial to the individual landlord. You are assured PART of your rent each month, from the gov.
That's about it.
Once the Section 8 voucher holder moves out, the govt check stops.
It's a good, community-minded idea. And, I commend you.
But, you really don't make any more money, or any easier money.
by involving the Fed. Govt!
Good luck!
2006-10-17 11:08:06
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answer #2
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answered by OShenandoah 3
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