Posted on 08/10/2018 7:21:39 PM PDT by George from New England
Own property and been renting it out in Florida for three years now. I'm sure we have freepers that have done this for decades and even some that got out of it.
1) We see the renter that asks? Do you accept Section 8? Aside from what that might allow, does section 8 allow for payment of last month rent. Is the security deposit in anyway dictated by that govt program?
2) We see potential tenants tell us about 'service animals' that we must take and allow in. We read that at least in Florida the statute does not allow for a larger rent or security deposit if this kind of animal is involved, vs. a pet.
3) I had one prospect say they have TWO service dogs. Can a landlord put a limit on the number of service animals? Like limit of one per resident. I haven't yet seen what a certificate involves.
4) 'Judgment proof income' a term I use to describe SS disability income and more and more I am seeing military disability income. These are tenants that if you have to evict and sue them, you cannot garnish these sources of income. Like sort of a slap on wrist of private owners and landlords.
Please welcome thoughts and other discussion herein, regarding all aspects of renting residential space.
Renting Section 8 is a good way to drive down the property values in the neighborhood and lower the value of your investment.
But why worry?
Section 8 is the federal government paying for some or all of the tenants rent. I would run away as fast as I could. One word government. I am a broker.
You do have a property management company handling this don’t you? Especially as an out-of-state owner. Get a good property manager and leave it to them.
Problem solved.
Still say no to Section 8
Section 8 the govt pays the rent but far too many stories that these tenants trash the property
Check your county courthouse for procedures regarding eviction. Some are landlord friendly jurisdictions, some are not. You need a copy of the landlord tenant code.
Always use a Realtor to show and rent your property - they provide tenant screening reports and can advise you. Then help write the lease. Worth paying a months rent
Ask about refusing pets or animals. Some neighborhoods HOA do not allow. You are fully liable for service pit bulls. Is your property fenced. What happens if the dogs are a barking or hostile menace. We always claimed no animals no smoking due to allergies because we planned to reoccupy the home.
Are you down there to manage the property. Do you have a local attorney. Letters from him on his letterhead to troublesome tenants can save you.
Biggest deadbeats we ever had was an architect with a bank letter claiming a million dollar account. He knew the eviction laws to the letter. He costed us lost rent, big time. We had to let the lease run out and not renew it. Then spend thousands on cleanup from neglect. He was a “ protected class” ahem.
Good luck
“Get a good property manager and leave it to them.”
Yup. As an out of state landlord myself, I agree with this 100%. Regardless of your decision on section 8.
We have rented one of our properties through section 8 in Nevada. I agree with the other post above that it’s probably not worth it. The good news is that the government pays the rent to you, so the money is guaranteed every month. On the other hand, they have all sorts of requirements to make your property eligible for the program. Between them, and your new entitled tenants, they really act as if they’re doing you a huge favor allowing you to participate in this sweet deal. If you’re in a solid rental market, I wouldn’t do it again.
My aunt currently works for a property management co, and the owner loves the section 8 crap. What was explained to me, is that with section 8, the govt sends the money asap, with extras for repairs etc. BUT you have to put up with the headaches. Example, the “tenant” only has to put $100 out of pocket, and these assholes STILL couldn’t pony up in 30 days. Yeah, there are more crazy stories...
We stay away from section 8..
Long-distance landlording is never a good idea. Even with a competent management company the odds are against you. No one watches your investment as close as you would. Ask yourself one question. If you had the money the property would bring at sale would you buy it again or deploy the capital elsewhere?
Under no circumstances would I accept Section 8 tenants unless I wanted the house destroyed. These are un-affordable tenants and I said “no thanks.”
Pay attention to the distinction between a service animal and an emotional support animal. The ESAs are actually more lightly regulated and only require a certification from a licensed social worker. There has been some recent moves , in Central Florida at least, to get a handle on the issue which has ballooned out of control.
As for the other stuff, I’d stay away from section 8. Set and adhere to strict income-debt ratios, credit standards for delinquent payments, criminal background standards, etc. Apply them evenly and keep good records. HUD is less aggressive under Trump, but the political climate varies greatly County by county and in some cases city by city in FL.
2. Have you seen their actual certificates for these animals. Also, I’d check with the state and local laws regarding these animals. I know alot of places are getting tougher with people trying to scam the system.
We are local in Florida, look at my tag line.
Homes are within 15 minutes.
I like the line ...
“We always claimed no animals no smoking due to allergies because we planned to reoccupy the home.”
I’m afraid if I ask for an email with the certificate as I might open the door to more headaches. Rather convince them not to want to rent here for other reasons. Always make it their decision due to other factors.
Sorry to be Debbie Downer.
Hate to pay a lawyer to ask ...
Can I put in lease or get in trouble for ...
Tenant is limited to only one service or emotional support animal in the unit. Tenant must provide and update certificate in order to remain in compliance with this lease.
Will I be in trouble if I was to say in email exchanges ...
Based on your income statements, we cannot rent to you because your income sources are judgment proof. If you default on your lease and we sue you and win, we have no way to collect the monies you owe us. We run a business here and cannot play by those rules.
If you are into financial self flagellation then go for it.
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