Are you wondering where you can find section 8 tenants for your rental properties? A landlord has a number of advantages to rent to a Section 8 tenant. The main one being, guaranteed rent payments from the government and free advertising. The problem many landlords face though is not just finding any tenants but quality ones.
Through the section 8 program, people who can’t otherwise pay full rent, can afford a home through government subsidies. This has pros for landlords such as minimizing vacancies. But also cons, like potential damage to the property, if bad tenants are chosen. While some section 8 renters may have an addiction or other social problems, most are hardworking individuals with a family to support and in need of a safe home.
This nationwide search engine puts people with section 8 vouchers in contact with the right landlords. GoSection8.com also allows landlords to fully screen each tenant to find ones of the highest quality. To get the most out of it, chose the premium version. The free version still comes with a lot of useful features but through the premium version, you can pre-screen applicants by viewing their personal information through their profile. This will allow you to weed out those with a bad record and likely to cause you problems.
Another great thing about GoSection8.com is that, much like a dating site, it matches people up through compatibility. This allows a landlord to pick the right people and even set different criteria for different properties, so you know you can get the right match.
Once your properties are approved for section 8 housing, you automatically get free listing through the HUD Housing Authority. However, if you want to have more control over the process and find the right people you should also advertise on your own. If your rental property is located in a major metropolitan area, you should post adverts only in the neighborhood and surrounding areas. The best place to do this is neighborhood community centers.
People with an existing connection to the community are more trustworthy and reliable than those who aren’t known to anyone. Post your advertisements for your property in any and all cultural or community centers in your area. This could be places like churches, cafes, cultural centers, barbershops, bookstores and shopping malls. People who frequent these local areas will have some connection to the area and likely have friends, family or other connections. If you can find a tenant through a community group that you also take part in, then it’s even better as you’ll have something to bond over.
Another place to check in your community is through local Non-profits. Look through any local charities, shelters and ask government office workers for information. These can all be great sources of information and be of big help to needy people looking for ways to use their housing vouchers.
Many landlords and real estate agents don’t want to deal with section 8 tenants, making them a great source of leads. Ask your local competition about where they have found section 8 tenants and perhaps you can work out a mutually beneficial deal. Done right, this can also lead to future collaboration.
If all else fails to turn up anything, then ask for referrals. It can be through your current tenants or others in the neighborhood. This will mean little to no marketing costs. And a chance to vet people, by working through referrals from people they know.
However, when you find tenants for your Section 8 housing make sure you understand the ups and downs of what you’ll be dealing with. Section 8 tenants can be a great source of steady income. But can also cause a lot of problems, if the right ones are not chosen carefully. Use these tips above and you should have little trouble finding the right tenants.