Section 8, a government housing assistance program, provides rental subsidies to eligible low-income individuals or families, offering stability for both tenants and landlords. If you’ve considered becoming a Section 8 landlord, or are on the fence about it, read on to learn all about the many benefits.

 

Reliable Rental Income

 

As a landlord, you’re banking on getting that rent check from your tenant in your account so you can use it toward your mortgage payment. With a reliable tenant you can relax a little bit, but let’s face it; there’s always a chance the tenant will be late. 

 

As a Section 8 landlord, a large chunk of your rental income comes from the U.S. Government. And no one pays rent on time like Uncle Sam. The best part is, Uncle Sam’s portion goes straight into your account via direct deposit. The tenant never has a chance to take the subsidy and use it for something else. 

 

Guaranteed Section 8 Rent Each Month

 

In a similar vein, Section 8 landlords are guaranteed to receive the government subsidized portion of the rent each month. Regardless of the tenant’s financial situation, you can rest easy knowing that most of your turnkey rental property’s rent is going to be there each and every month.

 

Potential For Long-term Lease Agreements

 

Section 8 housing requirements don’t dictate how long a lease must be, beyond one year. But because the application and approval process for the tenant is so involved, most Section 8 tenants tend to ask for multiple year leases. Knowing that they have their housing needs met is important for them, and they don’t want to risk you finding some other tenant after one year. This is beneficial for you, since you won’t have as much tenant turnover, and you can be guaranteed that subsidized rent for a year or longer.

 

Reduced Vacancy Rates

 

Because Section 8 tenants know they have a good situation for themselves and their families, they’re much less inclined to look elsewhere for housing. The other facet to this is a little bit sad, but Section 8 tenants simply don’t have the financial resources to buy their own home. So, unlike a lot of tenants who may pick up stakes after a few years to buy a home of their own, you can pretty much be assured that your Section 8 tenants will stick around. 

 

Property Maintenance Assistance

 

Many Section 8 programs offer incentives or assistance for property maintenance and upgrades. Landlords may qualify for grants or low-interest loans to improve their properties, enhancing their value and appeal to prospective tenants. Additionally, regular property inspections conducted by housing authorities help ensure that rental units meet quality standards, fostering safer and healthier living environments for tenants.

 

Diverse Tenant Pool

 

On the side of doing good for the world, Section 8 programs promote diversity and inclusion by offering housing assistance to individuals from various socio-economic backgrounds. As a Section 8 landlord, you have the opportunity to contribute to social equity by providing affordable housing options to low-income individuals and families. Embracing diversity is believed to enrich the community fabric, fostering tolerance, empathy, and cultural exchange. 

 

On the subject of goodwill, you’ll also be providing housing for a family that has likely been kicked around in life a little bit, providing a chance for them to bring up their children in a safe and loving home.

 

Wouldn’t you love the chance to safeguard your real estate income while putting a little bit of goodness into the world at the same time? 

We’ve assembled a collection of our currently available Section 8 turnkey rentals. This list will change but here are a few section 8 properties we have available: Berkshire St Detroit – rent is 100% covered  and Ward St Detroit – check the upgrades! For a current list, please reach out to sales@martelturnkey.com