Section 8 Landlords needed by City of Phoenix!
Hello - hope you are having a GREAT weekend!
Landlords are being recruited to take part in Phoenix's Housing Choice Voucher Program, a city effort to help low-income families and individuals find suitable housing.
The program, administered by the Section 8 Division of the Housing Department, gives landlords an opportunity to provide quality housing throughout the city to qualified renters, while receiving a monthly subsidy check from the city.
The qualifications for renters are incredibly strict; there is a 2+ year waiting list, so the city is very choosy as to who can qualify for the vouchers. As a landlord, it is a secure way to find tenants - rent is guaranteed by the city, and the tenants must adhere to all laws, and keep the property in good condition, or risk losing their vouchers. Once you're out, you're out, so tenants tend to be very cautious. Plus, it's a great way to give back to the community, by providing housing to tenants who otherwise have limited options.
As for the rents, they are what we would consider above market pricing, which all landlords seem to appreciate. There is a flat 'cap' depending on number of bedrooms, as to a maximum rent that you can charge and have the city pay. Of course, if you charge more, the tenants can pay the difference, but it will take you longer to find tenants.
We both attended a class on Section 8 housing, and it is a terrific opportunity - tenants RARELY move out, take good care of the home, and rent is guaranteed!
If you would like more info on becoming a Section 8 landlord, please contact us at info@weareazrealestate.com.
Sharon Kotula, ABR
Adam Tarr, e-PRO
Your Phoenix Area Real Estate Source
RE/MAX Excalibur
Scottsdale, AZ
480-483-3333