Section 8 Tenants and HUD Vouchers
Here is an exert from our blog post about Section 8 and HUD vouchers.
In my duplex, one of my renters uses HUD vouchers (Section 8). This part of the rent alone is enough to cover my mortgage and pay my property manager. I am still stuck paying my loan for my down payment, but I am good on that for now thanks to cash reserves. If you have vacancies, consider contacting your local HUD office to see if you can add one of your units to the list. People on HUD need a place to live too.
Don’t be scared of the image that comes with renting to Section 8 tenants. They have to qualify and they do not want to lose their ability to keep the voucher. There are four things that are looked at to determine if someone qualifies for Section 8 (some locations may have even more restrictions) family status, income level, must be a U.S. Citizen, and no eviction history.
Check it out here: averagejoefinances.com/2020/04/12/section-8-tenants-and-hud-vouchers/