The Section 8 program is a valuable resource for landlords in the Atlanta area who need good tenants for their property. In many cases, Section 8 tenants are long term renters and you won’t have to worry about missed rent payments or late payments. If you want to be a successful Section 8 landlord, paying attention to the program’s rules and regulations is critical. Today, we’re talking about the things you need to consider.
When you are part of the Section 8 program, you need to be prompt and thorough with repairs and maintenance. You cannot ignore small problems or defer necessary maintenance. When something is broken at the property, get it fixed right away. If your Section 8 inspection reveals that work needs to be done on the property in order to stay in compliance, that’s not an optional request. You need to make the required repairs quickly, and you need to make them within the deadlines that are provided. These deadlines are strictly enforced and if you miss one, you’re putting your rental income at risk.
A thorough inspection will help you understand the condition of your property and anticipate any repairs or updates that are necessary. The Section 8 program will conduct an inspection of your property before you are approved to rent it out to the tenants that qualify for their program. You need to be prepared for that inspection and the best way to be prepared is by doing your own inspection. Make sure the property is habitable and the systems are functional. Check everything from the roof to the light bulbs.
Establishing relationships with reliable and professional vendors will help you keep your Section 8 tenants. When you need to have something repaired, you want it done right the first time by someone who is a licensed professional. Look for a contractor who provides a warranty and maintains competitive pricing. If you’re not sure how to properly hire a great vendor, talk to a professional property manager. Management companies have long standing contracts with the best contractors in each industry and whether you need a plumber or an electrician, you can be sure you’re getting the best in the business.
The Section 8 program can be beneficial for landlords and their property. If you need help qualifying, or you’d like to hear more about how to ensure you can keep your property rented with Section 8 tenants, please contact us at Bailey and Hunter Realty.