Section 8 housing could be your best investment decision. It is the best way to have your rental income guaranteed. Section 8, also known as federal housing assistance, was created in the Great Depression. It allows people to transition from poor living conditions to better, safer housing options. Even after the shanties vanished, the program didn't end.
Section 8 roof rentals in Columbia County Ny is a way for low-income families to cover rent payments. Qualified families are required to pay 30% or less of their income for rent and utilities. The government covers the rest. The Fair Market Rent rate is set by the US Department of Housing and Urban Development. The rate may vary from one city to the next.
Image Source: Google
Section 8 housing offers many benefits that might interest you. You don't make much money from your investment, despite the fact that Section 8 housing is affordable for tenants. This ensures that there is always a steady stream of tenants. You can expect to keep them for a long period of time once you find a responsible Section 8 tenant.
It is possible that you don't want the government to be involved in your business. You cannot charge more than Fair Market Rent for Section 8 housing units. This limits the amount of money you can make from your investment.
You might think that investing in Section 8 housing would not cause any problems with late rent or property damage.