Just off the phone to my PM in US and he has just signed up two new tenants for one of my duplexes on the Govt Section 8 program both on one year lease and also higher rent than I expected. Now that doesn't happen often.
For those of you that don’t know Section 8 is when the Govt either subsidies or cover all of the rent for a tenant. We buy our houses on the basis that we will always have the option of a Section 8 tenant that we way we can confidently predict rent as my PM knows what section 8 will pay although this time he was out the right way.
What surprises me is the amount of US investors who steer clear of section 8. I think it is a great risk reduction strategy and it’s great to be on Georgedubbayas payroll. When you buy houses that are pitched at the lower income but not bottom market then surely unless everyone leaves town you should have a good occupancy rate in any economic situation, or am I just saying what I want to hear? Is any of the other US investors out there using section 8?
For those of you that don’t know Section 8 is when the Govt either subsidies or cover all of the rent for a tenant. We buy our houses on the basis that we will always have the option of a Section 8 tenant that we way we can confidently predict rent as my PM knows what section 8 will pay although this time he was out the right way.
What surprises me is the amount of US investors who steer clear of section 8. I think it is a great risk reduction strategy and it’s great to be on Georgedubbayas payroll. When you buy houses that are pitched at the lower income but not bottom market then surely unless everyone leaves town you should have a good occupancy rate in any economic situation, or am I just saying what I want to hear? Is any of the other US investors out there using section 8?