As a section 8 landlord you may be thinking what could possibly be wrong with having a long with having a long term section 8 tenant ?
Well here’s something i just thought of due to my own experiences. As you may know, the more children a tenant has, the more vouchers they are allotted. It is assumed that up to two same sex preteen children can sleep in the same room. But what happens when those kids are out of the house ? One tenant of mine has been with me since 2004 and now has children that are going to college and to the air force. At first i thought oh good for them after all, children of of a parent on section 8 who are attending college or serving in the armed forces should be commended. But then I remembered that it means less people in the household and thus a shrinking voucher amount. The tenant currently has a 5 bedroom voucher which pays about $1470 which is a nice chunk of change. Now my concern is that once section 8 gets gets wind of the change they’ll reduce the reimbursement.
Is this fair? Well life’s not fair, we all know that. But what pains me is that I’ve been keeping up a well maintained home, passing inspections and basically hustling to keep my tenant happy and at the end of the day, I’m left with reduced payments rather than being rewarded. Basically I’m punished for being a quality landlord and having a long term tenancy.
So what am I going to ? For now, stick with the tenant… I’ll report on future developments….