I am a relatively new landlord who is being tempted to accept my first section 8r - a single lady who has been in her previous apartment for 11 years and has verified 700+ credit.

Since I have heard this program is loaded with risky pitfalls, I would not only greatly appreciate learning more about these negatives - and even positives if there are any - from fellow landlords.

Thank you

Advice to a new landlord: run from the program and don't waste time learning its negatives.

If you are feeling tempted, do you feel that Sec 8 is the Devil? ;-)

The downsides often depend on the administration of your local HUD office. Some are good, many are mediocre, some are horrible.

One major issue is the pickiness of inspections. Your unit can be failed and rents withheld for something as simple as a busted light switch cover or a screen missing (that the tenant broke!).

Another is the HUD office doesn't help you if the tenant fails to pay their share of the rent. You have to evict and attempt to collect just like a normal tenant.

If Govt funds gets held up by sequestration like they did several years ago, you're rent money stops flowing. They don't have to pay any late fees when this happens, so you could be waiting, and waiting, and waiting for several months for politicians to get their act together.

If budgets are reduced, you may see your rent get a "haircut". During 2009-2010, Govt forced hair cuts of 10% on land lords in several major metro US cities. Our Govt debt grows daily....no sign of it getting any better, so keep that in mind.

All those negatives aside, some folks learn the system and have made a ton of money off this program. I would say it's just like any other niche market: learn the rules, play better than others, and hope for the best. I don't participate in Sec 8 personally, but maybe this is for you!

The only positive I can see is that, in the greater Boston area, they HUD set their rental price allowances up to where they are considerably higher than NON Sect 8 levels.

The only positive to this program I have found is that there is positively no positives. Gov't run and we all know how efficient they are with money. They basically tell you how to run your business and what rent you will be taking. The only way I would take this again is if they forced me to (which I fear is coming as well).

There are no good sides.

As each sec 8 tenant moves out, I pull myself further and further away from the system. Honestly, I would rather charge less to open up the market for my home, than continue accepting sec 8.

To answer your question...As stated above, all of the cards are stacked in HUD's favor. One new inspector, and your weekend plans just changed. The quality of the tenant pool is beyond abysmal. If your home is not outright destroyed, it will reach levels of filth that you have never imagined. It has been my experience that voucher holders have difficulty sustaining, regular, everyday task, much less financial responsibility. It is also true, that a tenant who has spent any significant time on the program has a VERY entitled attitude.

Honestly, sec 8 is NOT for a "relatively new landlord". The experience, may very well turn you away from REI.

I would like to add one of my best "Why I no longer participate w sec8" stories. (Trust me, I have many.)

I once had an inspector fail an inspection, because the tenant had let the bath become so filthy. The excuse was that the caulking needed replacing (it didn't, it was just filthy). Guess who spent a day sitting in someones filthy tub, scraping out perfectly good caulk, because sec8 was going to cancel my payment...and yes...this was the only "violation".

Best of luck w whatever you choose.

I inherited a sec 8 tenant with my first property. They didn't last a year. I have numerous stories. It was stressful even with a property manager. Fix this, fix that... fix this again. Oh and when they moved out I was gifted with so many roaches. I lost money turning it over.

Don't do it this early in your experience!

This is for Los Angeles, West Hollywood and Santa Monica. Every year Section 8 inspects a rental. If it doesn't pass their mustard test, rent is stopped. And they will re-inspect in 30 days at a price per inspection.

If the landlord is going to cancel the contract with section 8, like tenant is dealing drugs or not paying rent), you have to give the tenant a 90 day notice before they can be evicted on the street. Also when Section 8 learns you are getting rid of the tenant, they will stop paying rent immediately.

Oh take her. you will learn, from an 11 year sec 8 verteran, how to get taken to the cleaners. Right out of the gate!!!!!!

I would rather leave a place empty then deal with sec 8 people. I'm not talking about the recipiants either-- but the crooked administrators and eal makers.

In ontario social benefits can not be garnished.

You are wise to realize that S8 isn't as rosy as the tenants & PHA would like you to believe.

I've had S8, MA 707s & various other subsidizes tenants during my LLing career. During that entire time I never had one with a 700+ credit score. Did you actually do a complete background check including their credit?

Did one S-8 in 20 years in the business. Worst tenant and worst experience of my life. Never again.

Not just no, but way no!

Sec-8 has 2-prongs of negative. 1) the quality of the tenants, and 2) the UNCOOPERATIVENESS of the people administering the program. It varies which one is worse by the state/county/city.

I still have some S8 tenants

some ok, some not ok and some pure trash.

most feel they are owed something more then what they get. Also almost all sneak a bf or gf in the property.

We had one S8 tenant and it put me off ever renting to them again.She got into the program about a year into her tenancy and I thought it would be good to help her out (she was a single mom w 2 kids.)

Well, she began paying partial and late on her portion of the rent, and the city inspectors kept finding stupid stuff (small screen over the stove missing, etc.) to fail us on and then the rent stopped. It was horrible dealing with the city.

Finally got her out of the unit by threatening to report her to Section 8...we had a lawyer friend help us write up a contract stating that she would leave the unit without any problems. She knew if we reported her to Sec 8 she would be out permanently. She left without an issue.

We had one S8 tenant and it put me off ever renting to them again.She got into the program about a year into her tenancy and I thought it would be good to help her out (she was a single mom w 2 kids.)

Well, she began paying partial and late on her portion of the rent, and the city inspectors kept finding stupid stuff (small screen over the stove missing, etc.) to fail us on and then the rent stopped. It was horrible dealing with the city.

Finally got her out of the unit by threatening to report her to Section 8...we had a lawyer friend help us write up a contract stating that she would leave the unit without any problems. She knew if we reported her to Sec 8 she would be out permanently. She left without an issue.

Joe,are you still with us,I didn't rent to Section 8 in my early days of Landlording,broke into it gradually,maybe you should try to do the same,then you'll know if its right for you...charlie................let us know......................................