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#239207 - 07/21/08 01:22 PM Re: Section 8 tenants. [Re: Cool guy]
TnTownhomes Offline
Junior Member

Registered: 07/21/08
Posts: 1
Loc: Murfreesboro, TN
Cool Guy,

Concerning the saleability of your Section 8 complex, I think it may be important to know your buyer (easier said than done, eh?). It is my understanding that traditionally Section 8 housing has been considered "low rent" & "downscale", although that no longer seems to be the case. The upsides seem to be guaranteed payment (up to $1080.00). I hope this helps.

[url=http://www.centrepointetownhomes.com]Centre Pointe[/url]
Murfreesboro, TN.

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#239671 - 07/23/08 01:29 PM Re: Section 8 tenants. [Re: TnTownhomes]
Greg Phillips Global Moderator Offline
Mortgage Professional
Veteran Member

Registered: 01/26/05
Posts: 1117
Loc: Chillicothe, Ohio
Does Section 8 vary from state to state?

Here in Ohio it is nice to have a Section 8 rental because your rent is always there on time. But, they tend to be "hard" on the property itself and most investors claim the repairs are higher and Section 8 requirements are tougher on the property itself. So, you find yourself putting more money into the home for it to continue to be up to Section 8 code.
_________________________
Greg Phillips
Manager
Fairfield Mortgage Company
"Servicing all 50 states"
Web: Home Forums Blog

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