To become a Section 8 landlord, complete an application, pass a safety inspection by the housing authority, find qualified tenants, and begin collecting rent. Specific requirements vary by area, but in all cases you must gain approval from the local housing authority.Continue Reading
The application requires that you provide basic personal information, along with your rental rates. Disclosing your rates is necessary to ensure that you do not overcharge; your rates are compared against rates for similar rentals in your area.
Once your application has been approved, your property is subject to a lengthy safety inspection. The housing you provide must meet all local building and safety codes. You may have to install safety devices or essential amenities, depending on the codes in your area.
After passing the safety inspection, you can begin accepting Section 8 vouchers. You must find your own tenants and sign rental agreements with them. Although the tenants are screened by the housing authority, it is wise to screen them yourself as well.
Each month, you receive a check for the portion of the rent paid by the housing authority. Tenants are responsible for the remainder and risk losing their housing support voucher if they fail to make timely payments in accordance with the rental agreement.