I’ve never worked it. I did tax credit for a very brief period of 6 months several years ago and hope to never do it again. It wasn’t the residents it was ALL OF THE ADDITIONAL REQUIRED PAPERWORK. THERE’S NO NEED FOR THAT MUCH EXTRA SHIT! Yes I feel strongly about that. lol
Jonathan Weatherford 5 years in LIHTC was my limit. Our in house compliance department was my biggest challenge. Had I been psychic, with a crystal ball, I could have projected their “what if scenarios”. Talk about futility?! What a waste of time and effort.
I don't know how it's done where you are, but here it's backward. Approve them based off a mystery number, then have them sign the lease, then you find out how much they're paying, then somebody else sets a move-in date, then the resident pays the full move-in costs, they move in, then you move them in. Then section 8 pays what the resident already paid, leaving a credit on their account. bass ackwards.
Mark Tanguay that’s how it is here too. My company started taking vouchers but they have to meet our rent qualifications of 2.5x the rent and the voucher is listed as additional income. I haven’t had any qualify at my property but I’ve had 10 applicants this month tell me AFTER they apply that they are using a voucher. I’ve never had anybody qualify but my sister properties have.
We run the rent as only the amount the resident is responsible for. we're 3x, so if rent is 1800 and the resident is responsible for $800, Housing pays $1000. What ticks me off is if their voucher has a max rent of $1000, $500 from the resident and $500 from housing, and they want a place for $1800, the prospects says they can pay the difference. Dude, if you can pay the difference, totaling $1300 from the resident, you can afford an apartment approved for your income level without housing assistance. I don't care who pays what portion, I want to know what your max on the voucher is. If our apartments are more than that, you can't rent from me. It's also a pain explaining the utility requirements that Housing sets. I advertise for $1800 plus all utilities. Housing resident lease is $2000 with no utilities. They're only approved for $1800. They can't get the apartment at advertised rates.
It’s been good here! I’m in California. First off we don’t take co-signers, so their credit has to check out, and their rental history. We set the move-in date and then Section 8 inspects the apartment a day or two before they move-in. Then they pay their small amount, and less than a month later you receive a check for the remainder from the city. DONE!
I once had 12 of my then 15 units on section 8, I'm down to 1, and I'm ready to say good bye! I'm receiving $250-350 less a month than the unit is worth... Every year when I send in my notice to increase I have to fight with Section 8, they completely ignore the 60 day notice, and I always have to blow up their phone/email for them to respond... I'M DONE!
Jose Maciel this! They are unresponsive and we have to fight to get things done. Add in the endless paperwork and limits on rent increases and I’m so over it!
I must love it since I've worked it 25 years or so. Maybe because the owner is such a great person to work with. Sure, lot's of extra paperwork and procedures go along with Section 8, but it's what keeps it running smoothly when done right. "MOST" everything I ask for, I get on my annual budget. We don't treat our Section 8 any differently than our conventional properties. I think that's key to how we make it work. Yes, there are some "pure ass ghetto" Section 8 properties out there, I've seen them, and I'm not one of them! Guaranteed rent, nearly always at 100% occupancy and my biggest "problems" are children leaving drink bottles and candy wrappers on the playground! I'm a sarcastic, git-r-done, "take no crap" 60 year old Marine, yet I get along with all of my residents and co-workers. When most applicants come to view the apartments, they are amazed that it is a Section 8 property. Treat it like it's YOUR home and you'll have no problems. ***Shout out to the Darby Family for making a difference***
Love it! Voucher not project based. I’ll never do project based again! But my Housing Authority where I am now is the best I’ve ever worked with! They make their residents stay in line and keep things clean.
I don’t mind it. You get used to their leasing/inspection requirements. We accepted it at the properties that I worked for in NY. We had the same qualification requirements. Same management company in NC and we aren’t accepting it now because the previous owner didn’t. It wouldn’t bother me if we started to though.
My experience has been that when residents are provided housing assistance they do take care of their home or community as well as those that pay their housing costs out of their pocket.
my background checks are stronger than Housing background checks, so we typically get a higher echelon of those that are using it. and only my 3 bedrooms qualify anymore anyway, so works out well. nothing like a guaranteed payment
I'm not a fan; the endless inspections and failing on things that I normally don't fix during a turn for a regular resident. Failed for a cracked outlet cover; I mean really it cost me two weeks of rent over a cracked plate because the inspector couldn't return for two weeks and when he did he then failed me for something totally different and cost me another two weeks. And I'm tired of being responsible for resident damage; I'm not responsible for fixing the drains they clogged with their hair, replacing at no cost the window the kids broken playing in the house...it goes on and on DONE, DONE DONE
Kristina Janis nope, we provide tubshrooms and make it their responsibility. Additionally, the resident can control hair going down the drain so they are responsible for it.
My company stopped accepting new vouchers in 2018. They kept making us do more and more and would put rent in abatement if we didn’t fix what never should have been broken. Tenant damage we had to absorb, housing agent slacks off on inspections and would constantly reschedule, loose paperwork etc. got to be a nightmare.
The HCV program is great in theory, but it’s littered in paperwork and red duct tape for archaic reasons. It can be a turn off for landlords and the ppl in the program are stigmatized as “bad tenants”
I phased out of the program years ago for the reasons so many here have stated. The red tape and inability to negotiate, the stupid things they will fail the apartment or house for yet will not hold the tenant accountable for anything. Can you imagine, the tenant lives in squalor and that's ok, but the outlet cover is cracked and the unit gets failed!??? Now apparently, it will be law that we have to accept the program in Illinois. If they want owners and managers to accept the program, FIX THE PROGRAM!
From what I read from comments seems interesting. Basically provide great customer service , picky with your make readys and the paper work I like paper work so seems fun.
I feel like it gets a bad name but I don’t have more section 8 bad renters than market rate paying renters. We are just made accountable as landlords to make sure the unit is up to a normal standard. It’s also guaranteed rent and by them doing inspections regularly, your unit is more likely to be actually taken care of.
Section 8 voucher program is a great incentive to landlords. All residents come with problems so I would say in California it’s here nor there. We like the extra rent incentives
Section 8 housing is a humanitarian need it is good for the individual who needs affordable safe housing and it is good for the community. Yes, some people abuse it but I have seen over the last 30 years how many families retired and disabled people who have housing because of the housing voucher program.
I’m surprised at this question. It’s meant for our residents who need it. We can have only hope, if we ever need help we can get assistance. For the people who abuse it, it’s our job to monitor it so it’s not abused. Your mail man can be your best friend
Section 8 is good if they qualify. The problem is the people they have over. Especially women with young children they seem to always Is there useless X husbands. I have one rule if you live on my property you must have A job. No exceptions
Won’t do it ever again. Last section 8 tenant moved out June 30th and now I’ve got an $8,000+ turn on my hands. Rent was only $800 when she left due to restricted rent increases and as she moved out she stated that we better not blame her for the destroyed floors, holes in walls, damaged garage door, countertops needs complete replacement, smell of dog urine, and the fact that she smoked like a bat out of hell in her home and her garage. She was given a 60 day notice due to the third lease violation notice for the smoking and two lease violations for unauthorized occupant when she moved a man in and didn’t report it. Everyone is a liar and making things up but her. No thank you
Antonio Leon, that has been my experience with Section 8 here in California also. Guess it depends on the state or PHA policy. If your property meet the HQS of section 8, you typically get good residents who don't want to ruin their placement. It's gotten very difficult to find owners willing to accept vouchers as they will place rents above the section 8 limit to eliminate violating the law.
i wish my experience was positive but they lied on their application, moved in with 7 people, not 3, brought a pitbull (calling it a service dog) and have been living like pigs in the unit. (we know because we go in to fix their plugged drains, broken (abused) garbage disposal, broken (abused) washing machine and see the place being used like a flop house). In addition, they attract a lot of undesirables (defined as people who bring dogs, trash, loud parties and park in the handicapped stall without concern) to the building. So, never again unless we can vet them more carefully, hold face to face interviews etc.