It just so happened that I’ve been writing a lot lately about the role of Section 8 in our business, and my articles seem to have stirred-up a fair amount of conversation, specifically the article entitled Why Real Estate Investing May Not Be a Good Business 10 Years Form Now from about a month ago which received an obscene 226 comments… Wow – I guess people have a few opinions when it comes to the housing subsidy; unfortunately most of the opinions are not good! Let’s see if we can clear some things up.
I am going to indulge myself in a bit of “straight talk” in telling those of you who will not consider renting to a tenant qualified with Section 8 that you are wrong – flat out! Let me ask you – when the hell did high-paying job or presence of money become indicative of character, because this is precisely the implication here?
You are so quick to judge and assume that all people who get help are leaches, bums raping the system. There are a lot of those – sure there are, and I’m not suggesting you rent to them. I’ve turned over 14 units in the past few months and only one of them ended up rented to a Section 8 tenant. Why did I rent to her – because having checked her out I’ve made the call that she is a good person, and I don’t turn away good people simply because they can’t earn enough to qualify for my units and are forced to get help from Section 8…
My point is and has been:
There are good tenants who are subsidized and there are bad; there are good tenants who make good incomes and there are bad. …read more