How Section 8 housing can benefit landlords

Section 8 housing was developed in the mid-1970s as a project-based rental assistance program. Since then, it has evolved to include a tenant-based voucher program. Tenants apply with a local housing office for Section 8 vouchers and are either approved, denied, or wait-listed to join the program. Section 8 housing is good for the community as it provides safe and affordable housing to the elderly, disabled, and low-income families. However, it also benefits landlords in many ways.

If you are a landlord, read on to find out how leasing your property through Section 8 housing can benefit you. A major benefit is reliable and consistent payments. Rent payments through Section 8 are direct-deposited or mailed at the first of each month guaranteeing at least a portion of the rent will be paid on time, which is usually around 70%. Renters also typically pay their portion on time as well to prevent losing their voucher. Yearly rent increases may be permitted to keep up maintenance and taxes on the property. Extra marketing is provided for landlords through free websites that a tenant may access to search for a home. Section 8 Landlords also may see lower vacancy rates and longer-term occupancies due to the long waiting list of applicants applying for housing. Tenants are prescreened with criminal background checks, which help landlords gain a head start on the screening and application processes. Tenants must follow contract guidelines, including a certain number of residents allowable per unit. Tenants tend to appreciate their vouchers and don’t want to lose them, as they probably were on a waiting list for a long period of time in order to receive the voucher.

Becoming a Section 8 landlord has many benefits. Contact the KCDC Section 8 office today for information on how to take part in this rewarding program.