The government funds more than 2 million section 8 vouchers. That's a lot of households receiving housing assistance who are looking for suitable homes.

Are you considering opening your rental property up to them? While some landlords find the idea of owning section 8 housing scary, there are actually several benefits to becoming a section 8 landlord.

We're here to talk all about section 8 housing so you can make the right decision for your situation. Read on to learn more.

How Does Section 8 Housing Work?

Section 8 is a housing assistance program. It helps low-income families and people with disabilities secure housing.

Eligible households get housing vouchers. Those vouchers cover 70% of their housing costs. The remaining 30% is the responsibility of the household.

Households must find housing that fits the qualifications of the voucher. They negotiate with the landlord and an official will come by to ensure that the housing is suitable before they move in.

How Do You Become a Section 8 Landlord?

Most of the time, becoming a section 8 landlord is simple.

If section 8 voucher holders apply to your property and you approve them, they can contact the public housing agency (PHA) which will come to make sure your property is suitable.

You'll need to fill out paperwork to receive government money. Once you're done, you're officially a section 8 landlord for the duration of that tenant's stay. When that tenant is gone, you are no longer a section 8 landlord.

If you're seeking out tenants who need section 8 housing, you can contact the PHA on your own. Make sure that your rental property meets all of the requirements for section 8 housing beforehand.

A PHA official will visit you to inspect the property and make sure it qualifies for section 8 housing. They'll also go over your rental requirements and rent costs.

Again, you'll fill out paperwork so you can start receiving money from the government and you're ready to find tenants.

To learn more about Section 8 Landlording and how to get started, click here.

What Are the Benefits of Being a Section 8 Landlord?

Many people worry that being a section 8 landlord is too risky, but this isn't the case. While you may not be able to set sky-high rents, there are benefits to renting out your property this way.

You know that you're getting your rent money every month. Even if the tenant is struggling (which happens from time to time), you will get at least 70% of the payment every month consistently.

There's a high demand for affordable housing and you will rarely have vacancies.

At the end of the day, you may experience more profit from being a section 8 landlord than a "normal" landlord.

Here are the pros and cons of renting through Section 8 if you're interested. https://carolinaspropertymanagement.com/blog/pros-and-cons-of-section-8-rentals 

Are You Considering Becoming a Section 8 Landlord?

Being a landlord for section 8 housing means providing affordable housing for the people who need it most. If you're considering becoming a section 8 landlord, it may be time to talk to your local PHA about your options.

Are you a landlord in need of property management services in Charlotte, North Carolina? If so, we want to meet you! Contact us so we can start working together today.