Becoming a Section 8 landlord in the Houston Texas Metroplex is an easy process and has a lot of benefits. Contrary to urban myths about Section 8 tenants, most of the tenants are financially responsible and want to find a nice home to live in and keep it nice. Supporting and servicing Section 8 tenants just takes a bit more upfront time. But there are landlord support services available to assist the landlord with all of that too.
- Determine fair rental value and compare it to your financial needs. You need to figure out the fair rental value of the area and the typical rental rates paid by the Housing Department. Be sure the Housing Department rates meet your financial goals as a landlord/investor. If you are not sure how to gather all this information visit your local housing office.
- List and Show your property. Advertising the property can be done in multiple ways including online or print.
- Tenant Voucher Work. Once a tenant decides they want your property there are multiple steps to follow and your housing office determines these. Be prepared to stand in line and submit proof of ownership forms and more. A landlord support service provider can also submit forms on your behalf and save you valuable time.
- Housing Property Inspection. This is a necessary step to ensure that your property is up to minimum safety standards. You only get two inspections. If your property fails both then the tenant can not move in.
- Post Inspection Voucher Work. After the property passes inspection you have to wait up to 60 days for final move-in date approval. An experienced property support professional can help expedite this wait period in some cases.
- Tenant Customer Service. You must respond promptly to tenant issues such as repair requests. If you don’t then the tenant can report you to the Housing Department and put in a request to move.
- Other Housing Dept. Property Inspections. These can occur at anytime during the lease period and for any reason. There is always an annual re-inspection to make sure that before the lease period renews the house is still in good condition.
- If you’re not ready to handle the time and paperwork and office visits and customer service required then consider a property support service or a realtor or a property manager.
- Section 8 tenants typically turn out to be long term tenants when given proper customer service.
- Intense upfront paperwork is required and it often takes up to two months to get your first rental check.