 HUD Rentals (by Melissa [WA]) Feb 9, 2008 1:29 PM
 HUD Rentals (by Carolyn [MO]) Feb 9, 2008 2:23 PM
HUD Rentals (by Carolyn [MO]) Feb 9, 2008 2:45 PM
HUD Rentals (by mike [MO]) Feb 9, 2008 3:28 PM
HUD Rentals (by StevenColorado [CO]) Feb 9, 2008 4:53 PM
HUD Rentals (by Melissa [WA]) Feb 9, 2008 5:12 PM
HUD Rentals (by Melissa [WA]) Feb 9, 2008 5:21 PM
HUD Rentals (by Cathleen [WI]) Feb 9, 2008 5:58 PM
HUD Rentals (by OrEGone [OR]) Feb 9, 2008 6:47 PM
HUD Rentals (by Reid [KS]) Feb 10, 2008 2:48 AM
HUD Rentals (by TenantWhisperer [MA]) Feb 10, 2008 6:43 AM
HUD Rentals (by billy button [MA]) Feb 11, 2008 8:10 AM
HUD Rentals (by Lynda [TX]) Feb 11, 2008 2:03 PM
HUD Rentals (by Melissa [WA]) Posted on: Feb 9, 2008 1:29 PM
Message:
State Specific Question About: WASHINGTON (WA)
How can I put my primary resident up for rent through HUD?
--75.165.xxx.xxx |
HUD Rentals (by Carolyn [MO]) Posted on: Feb 9, 2008 2:23 PM
Message:
Before you proceed, check the Q & A Library for Section 8. You will find many postings that may cause you to reevaluate your proposed action. Generally, dealing with Section 8 is very, very difficult for inexperienced persons. Much depends on the quality of the Housing Authority you will deal with.
If you want to go ahead, all you have to do is place an ad in a newspaper available in lower income areas that says Section 8 accepted, and you will have many calls. Or some housing authorities keep a list of places available or refer persons to a website such as SocialServe. --64.12.xxx.xxx |
HUD Rentals (by Carolyn [MO]) Posted on: Feb 9, 2008 2:45 PM
Message:
I may have misunderstood.
By primary resident do you mean someone already renting from you?
Or did you mean primary residence?
Or something else? --64.12.xxx.xxx |
HUD Rentals (by mike [MO]) Posted on: Feb 9, 2008 3:28 PM
Message:
they should go to the sect 8 office and see if they ualify and if there is money available for them. Most of our funds are dried up unless disabled or over 62 years old --24.107.xx.xx |
HUD Rentals (by StevenColorado [CO]) Posted on: Feb 9, 2008 4:53 PM
Message:
Melissa, there's a big time difference between applying for HUD and getting on it. And it's not a sure thing either. --71.218.xxx.xx |
HUD Rentals (by Melissa [WA]) Posted on: Feb 9, 2008 5:12 PM
Message:
Oops: I meant Primary RESIDENCE. In other words, I heard that I can rent my home out to a Section 8 renter who pays only a percentage of their rent by check and for whom HUD pays the magority of their rent for them via direct deposit, depending on their income and medical expenses. I used to manage a Section 8 15-untit property when I learned this. My supervisor said told me there were many financial benefits.
--75.165.xxx.xxx |
HUD Rentals (by Melissa [WA]) Posted on: Feb 9, 2008 5:21 PM
Message:
Thank you, Carolyn. I will take your advice and check out the Section 8 Q&A. This was my fist five minute on this site, and I didn't get that far. You seem to really know this business well. Thanks! --75.165.xxx.xxx |
HUD Rentals (by Cathleen [WI]) Posted on: Feb 9, 2008 5:58 PM
Message:
If your primary residence is nice, you may want to re think about taking HUD tenants. Your tenants through HUD will be low income and probably uncollectable. So if they get behind in rent or do major damages, you will not be able to garnish wages or attach property, therefore you will probably not collect anything and have to take the loss. I am not saying that all HUD tenants purposely get behind in rent or trash property, as I have some decent ones, but I have also dealt with those that get their security deposit paid for them through other organizations and just don't care what they do to the property or how far behind they get in rent. Needing to file small claims to try to get past due rent (good luck) or evict them can be very expensive and time consuming.
You may just want to try to get a higher income tenants that may be more careful with your home. Of course there can be good and bad tenants whether low income or not, so be sure you check references, credit report, criminal background, etc. Good Luck. You should study up as a lot of things may have changed since you were in the landlording business before.
Cathy --207.190.xxx.xx |
HUD Rentals (by OrEGone [OR]) Posted on: Feb 9, 2008 6:47 PM
Message:
There is no financial benefit of having suc8. It used to be (10 years ago) that they would pay for damages.
The only advanage of signing a term lease with suc8 is that you all ready have the boat anchor tied to your foot so when you jump off the bridge, you'll sink to the bottom. --24.21.xx.xx |
HUD Rentals (by Reid [KS]) Posted on: Feb 10, 2008 2:48 AM
Message:
I've rented to HUD tenants and they are HUD tenants for a reason . They lived like animals ( with apologies to most animals who won't poop in their own bed). Depending on your local HUD inspectors they won't approve a place for rediculous things like finding peeling paint even on the outside of the house. It's a roll of the dice it might work out well or it might end up as a nightmare. >>>>>>>>>> Reid , KS --71.158.xxx.xxx |
HUD Rentals (by TenantWhisperer [MA]) Posted on: Feb 10, 2008 6:43 AM
Message:
I'm confused, if you "used to manage a Section 8 15-untit property" why don't you already know the answer?
Melissa, dealing with S8 is not for the inexperienced or the faint of heart.
I'd recommend against doing it as your first rental (or so it appears).
--71.232.xx.xx |
HUD Rentals (by billy button [MA]) Posted on: Feb 11, 2008 8:10 AM
Message:
i agree with tw.dont get into it this unless u know how the program works,have studied it etc.we get many messages from new landlords in s8 who get in real trouble.i avoid it.too many problems.a few guys here do it successfully. --208.58.x.xx |
HUD Rentals (by Lynda [TX]) Posted on: Feb 11, 2008 2:03 PM
Message:
Melissa, after you have the Sec-8 list open, look for emails on the subject from me, Lynda(TX). Read them all very carefully. No matter how bad your market is, you REALLY don't want to do this. Especially with your former residense! And if you do--FIRST have an attorney on retainer who specializes in LL-tenant law. You will need him. And have a chunk of money set aside to expend for repairs to your property, and court costs, and to pay mortgage payments the months you don't get rent, and... --140.140.xx.x |
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