Section 8 Thoughts & Books
Anyone have a beginner's Section 8 landlording book they can recommend. I want to pickup a couple this year.
For those who do Section 8, is it as good as many say it is, with guaranteed mortgage payments and all?
Thanks.
If you contact Section 8 they can send you requirements. The real key is to get a hold of the price schedule which shows the point system to determine how much you can charge. It can show you which improvements bring the most rent increase. I have seen one but have not been able to gt a copy yet. Remember, you sign a 1 year lease with the tenant not Sec. 8. Section 8 can change the amount they will pay or if your tenat is qualified at anytime during the lease term.
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[ Edited by Hlevin on Date 01/06/2004 ]
Try calling the Leased Housing Outreach Hotline at (718) 250-9891
They can give you general information about the Section 8 program. I don't believe they have any books that you can pick up, but I bet their pamphlets and the landlord's Section 8 orientation kit are quite informative.[ Edited by DaveT on Date 01/06/2004 ]
I would prefer to do all section 8 garanteed payed by the 2nd of each month. Rent thier willing to pay dosnt always work for higher end properies though.
As for a good book to read none that I know of but the Hud office does have a Landlord packet that will get you started.
Hope this helps if you need more info ask away.
ED
There is a packet that outlines your responsibility as a landlord for the section 8 program. As long as you comply with their quality standards, your check will be in the mail on the 1st of every month.
You should be able to call the housing authority (Section 8 Dept.) in the city in which you want to put properties on the program. Let them know you HAVE property you want to put on the program and you want thier guidelines. They will then transfer you to the correct person to send your information.