Gone through a Section 8 eviction yet? Good times.

My Section 8 tenant - with her 3, 4 or 5 kids (who could keep track?) also got utility subsidies. She just figured that the crack was more important than the natural gas and electricity, so when the yearly inspection came around (I think it was in the month of Nov) - I got a 4 page listing of all of the issues. This included no hot water, no heat, etc. In order to pass inspection - I had to evict her since utilities wouldn't allow me to pay to have them back on as a "delinquent customer can't benefit from their services." And since SHE got the utility subsidy, there was no way for me to receive it instead and make sure that the utilities got paid. Otherwise, it was cash flow of $175/month, and the check showed up EVERY month a few days early!

Been a landlord for 15 years, own 24+ units...

I evict 1-2 folks every couple years... I have never had to evict a section 8 tenant... perhaps I am lucky?

Most of the time eviction is for nonpayment... thats not an issue with Section 8, as the tenant usually pays $100, and Section 8 pays $750 (3bdr)

In our area there is a 3 year wait to be on section 8. And if you misbehave, you lose it...

If you have access to good tenants, that are credit worthy, with great jobs, then that is the best tenant. In most areas I have found that finding good tenants is really tough. Most folks with jobs are barely scraping by.

Section 8 tenants need to be vetted just like any other tenant. There are the good, and the bad. In Wisconsin there is a website that lists every interaction a person has had with the legal system. Its free, and its awesome!!! It list every eviction, lawsuit, speeding ticket, nonpayment of utility, drunk driving, drug possesion, yada, yada, yada...

I don't know if any other state has this?

The first thing I do is clear the potential tenant through this website. That weeds out 95% of folks.

Then, I do a credit check... that weeds out about 1/2 of those left.

The rest, are very good tenants...

Some of the credit check agencies do criminal backgroundchecks for a fee. They are not nearly as detailed as Wisconsin's website...

Google "Wisconsin Circuit Court Access." Peruse it. See if your state has something similar...

Its FREE!

Bo

I wouldn't say it's an owners market. But there is a lot of demand her in central FLA. As with anything property related, location, location, location is the key.

I totally agree, the requirements are demanding. But that is intentional so as to weed out problem people. In fact they are so demanding that we were not able to go at it ourselves in finding the renters. We went through a broker. Finders fees are very motivating. That was some years ago. We've still got the same renters and they pay. The finders fee was money well spent IMO.

As to renter flight, we do review rent on an annual basis, we monitor the rents for comparable properties and set it just lower than the competition. The first time we raised the rent ($75/month increase) they pulled the crap of I can't afford that so we're not renewing. So I pull out the analysis and show them that the only way they are going to get the same rent or better is to downgrade to a lesser property.
A few days to let that soak in and bingo, they suddenly could afford it!