How to Become a Section 8 Landlord
Becoming a section 8 landlord is not a decision you should take lightly. Since you will be receiving most of the rent from the government, you know ahead of time that rent will be paid. However, section 8 applicants can be down on their luck for a variety of reasons and while you may want to help out those less fortunate, you want to also make sure this is the right decision for you.
- Contact your local housing authority (HUD) and let them know you'd like to be a section 8 approved landlord.
- Fill out any applicable forms your local housing authority requires. You will need to supply them with a minimum of your personal information as well as property information that includes: square feet, number of bedrooms, number of bathrooms, length of time property has been in your possession, and the amount of rent you would like to receive for the property.
- Schedule a time for the city housing inspector to come to your property. They will need to be let into the property and be allowed to check the overall condition of the apartment or house, as well as any appliances or furniture that comes with the property. The property needs to pass inspection before it can be considered rentable under section 8 guidelines. Once the inspection is complete and you are accepted into their program, you will need to sign a contract confirming you will adhere to their rules and regulations.
- Advertise your rental property in the local paper and/or online rental sites. Be sure and mention in your ad that you accept section 8 applicants.
- Screen your section 8 tenants just as you would any other potential tenant. Contact previous landlords as well as current and past employers to verify the information they've given you is accurate.