Those you may know as “Section 8” renters can be great tenant(s) for your property.
I often share the pros and cons of renting to “Voucher Holders” with prospective clients. There’s great opportunity to be enjoyed by renting to these residents. In some cases, renting to Voucher Holders can mean very good things for property owners like you. Indeed, many receive a substantial surplus each month when the rental market is a bit wonky, as it has been here in D.C. for some time.
Here are 6 of the upsides to renting to Voucher Holders:
- Voucher holders tend to remain longer in the rental, 5-8 years or even longer.
- The rental price is funded by the Office of Housing and Urban Development (HUD) and local sources.
- Rarely is the agreed-to rent revised downward by HUD.
- Program officers provide some oversight by conducting annual inspections to ensure the tenant is taking care of the property.
- The inspectors are keen to not tolerate criminal activity.
- Inspections ensure that only the approved, named residents are living in the rental.
Find out much more here.
Scott Bloom, Owner and Senior Property Manager
Columbia Property Management
Bloom founded Columbia Property Management in 2012. CPM’s goal is to provide a powerful, personal level of service to our clients. We focus on smaller landlords, professionally managing their assets, so they can succeed by investing in rental real estate. Scott is an active member in multiple professional organizations including the National Association of Residential Property Managers (NARPM) and serves on the property management committee of Greater Capital Area Association of REALTORS® (GCAAR).
For more information and resources, go to www.ColumbiaPM.com
