Section 8 rentals and property investors
As this recent article states (http://bit.ly/t1GDhP), the demand for Section 8 housing far exceeds supply in most housing markets in the country. Property investors working with one of many Oklahoma City Oklahoma property management companies like OneProp, should discuss the benefits and implications of opening up your rental property to Section 8 renters. This article presents some considerations for property investors with Oklahoma City property rentals to take into mind when talking with a property manager about Section 8 rentals.
- What is Section 8? As many property investors with residential rental properties Oklahoma know, Section 8 is a federally funded housing assistance program for low-income tenants. The program provides assistance directly to the tenants themselves, so they may move into apartment or home rentals in Oklahoma City easily.
- Why do property investors rent to Section 8 tenants? As Oklahoma City Oklahoma property management companies will tell you, the key to maximizing your income stream as a property investor is to reach out to the widest pool of applicants possible. The Section 8 program provides housing assistance to 3.1 million families and individuals. Imagine how many of those are looking for home rentals in Oklahoma City right now.
- Section 8 tenants give assured income to property investors. Those with Oklahoma City property rentals are understandably nervous about the prospect of renting to low-income tenants. Some landlords with residential rental properties Oklahoma City believe that Section 8 tenants often pay their rent late or sometimes do not pay it at all. However, Section 8 tenants are among the most reliable sources of income for a rental property. In most cases, Section 8 tenants are responsible for paying around 30% of their rent. The remaining money is paid by the United States government directly to the landlord.
- Section 8 tenants resolve vacancy issues. Askany of the many Oklahoma City Oklahoma property management companies what the most important concern in the rental housing market is right now. They will undoubtedly tell you: persistent, unresolved vacancies. Property investors with apartment or home rentals in Oklahoma City know that working with Section 8 tenants gives you access to a larger pool of applicants, all eager to fill vacant housing. Property investors with Oklahoma City property rentals experiencing high vacancy issues may find Section 8 tenants a solution to their problems.
As a property investor with residential rental properties Oklahoma City, your goal is to generate the highest monthly income steam possible. When discussing marketing strategies with your property manager at OneProp, be sure to consider Section 8 tenants. They provide an income stream guaranteed by the United States government directly to Oklahoma City property investors.
