The U.S. Government has programs available to assist people in paying for adequate housing. Section 8 is a program that gives people rental assistance. Some real estate investors have apartment complexes that are suitable for Section 8 housing. Some investors do not like Section 8 housing because usually the apartments get a lot of wear and tear and there seem to always be problems that need to be addressed. So why do some investors prefer Section 8 housing? Simple, they government pays the some or all of the tenants’ rent for them. Investing in section 8 housing is a guaranteed rent payment every single month.
Tenants must apply and qualify to get assistance from the government. The Department of Housing and Urban Development or HUD oversees this program. They will set the rental rates and inspect the investor’s properties to make sure the rental properties are up to the HUD standards. This is done on a yearly basis.
Keep in mind that this is a government program, so there will be plenty of paperwork to be filled out in order to become a HUD property.
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Thanx for this, I guess I’ll have to rethink my perspective after all these years.