OWNING A USA INVESTMENT PROPERTY
GOVERNMENT LEASED HOUSING - SECTION 8
The content on this page is reproduced from www.US-Property-Investment.com with kind permission from Richard Lillycrop.In addition to leasing your property through a property manager to private tenants, you can lease your property to Section 8 or leased housing tenants. These tenants are typically poorer and have their rents subsidised by the government. So for example if the total rent you receive is $500 per month, then the tenant may pay $150 and the city pays $350.
It has the advantage that some or all of the rent is guaranteed each month, as your rent is coming direct from the government. Also these tenants are typically very long term. Your property will need to pass an annual inspection by the city.
The waiting lists are long for this scheme, so generally the tenants will take good care of your property. If they don't you can evict them in the same way as a private tenant and that tenant will then be banned from the scheme.
An INBIB approved property manager will be needed to manage Section 8 tenants, unless you are local to the property and can organise maintenance and repairs yourself.
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Please Note - The information contained above should not be regarded as legal or tax advice and is our opinion only.