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 SECTION 8

Section 8 program advantages and disadvantages:
As a current owner of ours you may be asking yourself if you should get involved with the Section 8 program should your rental become vacant? That's a hard question to answer. The Section 8 program has changed quite a bit since the Clinton administration. Of course change, usually has both it's good and bad points. Our management staff as seen a better quality of Section 8 tenants in the last 5 years.

The biggest advantage Section 8 has to offer is regular rent payments. You have to take the word "regular" to mean, the governments meaning of regular. In the beginning of a new tenancy, the accounting office is 2-4 weeks behind. Eventually, the payments catches up and the rent usually flows very regularly. But, if you're expecting IMMEDIATE payment from the government after your Section 8 tenant has moved in, think again. It can be slow on the other end as well. If a Section 8 tenant gives notice to move, then the accounting office may put a hold on the payment of rent until it is determined exactly when the tenant has vacated.

Resolving issues through Section 8 is usually pretty straight forward. However, getting in touch with anyone by phone to do this is something else again. We believe that Section 8 is actually the founder and inventor of the constant and perpetual phone tree. Usually, problems are more quickly resolved with a trip to their office by one of our management staff.

Section 8 tenants:
Over the years, for the most part, Section 8 has "upgraded" so to speak, it's client list of tenants. The "rules" have changed dramatically regarding tenant responsibilities, and for the most part, Section 8 recipients do their best to take care of the property. Of course there is always the problem tenant that somehow manages to stay in/on the program even when they violate a number of restrictions that   Section 8 imposes on them.

For the most part, if you take on a Section 8 tenant, you probably will not have any out of the ordinary repairs to make and your rent will come in like clock work once the initial period is over and everything is in their system. Our management experience tells us the typical Section 8 tenant usually stay in the property longer than non Section 8 tenants

Section 8 inspections:
 Section 8 requires that the property be re-inspected every year. Affordable Property management feels this is a good thing. It can require the owner to make some additional small repairs, but at the same time the owner is fairly well assured that the property is remaining in reasonable condition. Again, on the flip side, some owners despise any government agency dictating to them what they do and don't have to do with their real estate. Our management company offers quarter inspections for a small fee. We believe every property should be inspected regularly.

 
 
Contact Affordable Property Management today at 702-437-4121 or Email: Cmclain139@gmail.com