As an Investor, you are looking for ways to generate “guaranteed” income and this may well be one area that has yet been UNTAPPED. Section 8 just collected hundreds of applications from those in the community who are seeking to be placed in a Section 8 home. There may be as many as 600 homes NEEDED for this program to facilitate the new applications!
If you are not familiar with the process – but are interested in having your Vacant homes made profitable – this may well be an alternative worth checking into. The benefits would include: having a tenant that is accountable to a city program as well as the lease – if they fail to do their part – they stand to loose the whole Section 8 program; guaranteed monthly rent – paid in part or in full by Section 8 directly to you; and even possibly – working with a tenant under these terms who after 2 years could do a purchase of the property!
I am asked -many times- about “property management” and while there are companies who provide this service, some real estate companies may even include a property management department; I make available this recommendation: Investor’s Nest. They are familiar with the Section 8 program, their requirements for the home (standards of condition, repairs and tenant policies), they are local and they know the business of investing in property and what is involved with tenant and property maintenance. Investor’s Nest was created to offer these services for those who are out of the area or who do not want to be involved in the daily process. They can work from the very beginning of the stages in preparing the home for Section 8 inspection and implementation into the program, facilitate repairs that may be needed, interview the Section 8 candidates for the best tenant for your property as well as the property maintenance (or any portion of those services you choose.) All rental income continues to be directly to you – the owner. If you have questions, please feel free to discuss terms and opportunities available.