How Fast do Section 8 Homes Typiclaly Rent? : ezLandlordForms

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Mike L

started a topic over 8 years ago

I hear that there is a back-log of families waiting to find homes to rent. Do you typically see homes sitting on lists for a while or are they usually rented quickly? I know there are a variety of factors that would go into this, but I am just trying to get a general idea of what to expect. Should we be advertising in addition to the listing at the town? Also, do you find 2 family homes rent more quickly than 3?

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Richard W

said over 8 years ago

You need to register the property with your local HUD office. Once you do this they can even help with finding tenants that qualify for HUD assistance. You still want to treat all tenants the same and follow full background checks and past histories.

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Mike L

said over 8 years ago

Thank you for your response Rich. After we register with the local HUD office, how long does it typically stay on the market before being rented? Everyone is saying that there are tremendous back-logs, do you find that Section 8 homes rent quickly once they hit the market?

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Btl P

said over 8 years ago

Hi Mike, I'm in Missouri and have several section 8 properties. I have gotten prospective tenants calling as soon as the next day following listing a property. However, the scheduling of the inspection is what slows down the process. Usually, once a tenant's package is turned in, it takes two weeks for the inspection to be scheduled. Assuming the property passes the first time, the move in slip can be picked up in 48 hours.

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Eric D

said almost 6 years ago

I agree with BTL's comments above. To put some more numbers to it, the average voucher tenant is on a waiting list 18 months before obtaining housing. For a Missouri market where I invest, the number is slightly better at 11 months on a waiting list. See more about my experience https://youtu.be/KYezPbVgjrU