Section 8 Properties
How do you get your investment property registered with HUD to get section 8? Ive looked on their site but I dont see anything detailing information on investors getting the properties section 8.
How do you get your investment property registered with HUD to get section 8? Ive looked on their site but I dont see anything detailing information on investors getting the properties section 8.
You need to contact your local housing authority. They will handle all the section 8 paperwork. Most offices have workshops or staff to assist you with all the paperwork.
-Chris
[addsig]
Contact a local management company in the area you would like to acquire properties. Tell them of your interest to acquire the properties and you would like their assistance with obtaining information about Section 8. Obviously the “Management Company” should be managing Section 8 properties currently to make your inquiry open their eyes and the "contact" list for the Section 8 program. Even if you have no intention of using "their" services, make it appear as though you would or at the least appear to be looking for management companies. They would be able to walk you through the process and help you get situated with Section to some regard. Best of all they do most of the work and you get to reap the efforts of them trying to earn your business.
Respectfully,
Phil
thanks,
I do that i appreciate it!!
It just isn't that complicated, and I've rented several houses to Section 8 tenants.
Just call your local Housing Authority, get their current section 8 rates and also get a copy of their little guide book/pamphlet on what's required for any Sec.8 property...like how many windows, elec. sockets, light fixtures in BRs, what kitchen & bathroom have to have, etc...this can probably be found and printed from website.
Then advertise that you accept sec.8 tenants and when you have one or more people apply, they'll then contact the housing office and the property will be checked out for compliance.
You then sign a 3 way lease deal with Housing authority, the tenant & you, and you're in business.
Every month Sec.8 office will send you their part of the agreed rent, the tenant pays you the balance.
As John said, it truly is a simple process. You could even run an ad in the paper that you accept section 8 and watch your phone ring off the hook. The tenant could even give you the direct phone number to their coordinator, and they could simply fax you the paperwork that you need to complete!
It so easy . . . you can let them come to you!
Best of Success!
BAMZ