Can I do It? Advice Please

[HpRyder]

Quote:

Originally Posted by Letj tenants are required get a good standing letter from the landlord when the do vacate.

Here, HUD could care less how tenants leave the landlord.

Quote:

Originally Posted by Letj At one time section 8 used to pay for tenant damages but they really don't do that anymore.

They never did here. Tenants were responsible for damages, but since they have no job or much money to begin with, they are judgement proof.

Quote:

Originally Posted by Letj The rents from section 8 are fairly high compared what I can get from a unsubsidized low income tenant. It's at least 300 more.

Here, they are typically 300+ below market level, and HUD has a hard time finding rentals, except in very very very poor areas.

Quote:

Originally Posted by Letj the tenants have an incentive to pay their portion because they can lose their vouchers.

Here, HUD supplies free lawyers for tenants fight eviction, gets them new housing after eviction to other desperate landlords.

You've got a great situation going there and are on a roll. Renting on.

[Letj]

Let me clarify - since these are low income tenants, there are not that many places available for them to rent outside of the the inner city for obvious reasons. This means that what a landlord can get from an unsubsidized tenant in the inner city here is much lower than you can get from section 8. However, outside of the city or in better areas of the city, the rents are much higher and of course, there's no incentive to rent to a section 8 tenant since there's a better pool of qualified tenants.