Pros and Cons of Section 8 for Landlords in Philadelphia

Should you consider renting your property to a tenant who may need a Section 8 voucher from HUD to be able to afford to live in your property in Philadelphia or Delaware County? You may hear from some of your landlord friends who have Section 8 tenants in Delaware County or Philadelphia that the money is as good as in the bank however you worry about what you have heard horror stories about how a section 8 tenant damaged a property. In this video, I will review the pros and the cons of Section 8 as a landlord in Philadelphia and Delaware County PA. 0:00 Overview 2:37 Pro #1: HUD Section 8 Rent Schedule 5:10 Pro #2: Direct Deposit of voucher 5:40 Pro #3: Local Housing Authority on your side 7:05 Pro #Section4: 8 Voucher as an asset to tenants 8:12 Con #1: Section 8 Tenant could still get behind in family portion 8:50 Con #2: Section 8 Tenant complaint inspections 10:06 Con #3: Housing Authority sets final rent for Section 8 13:52 Con #4: Additional HUD lease rules 15:00 Additional tips to keep in mind about local housing authorities in Delaware County and Philadelphia Download resources for new Philadelphia rental property investors: DOWNLOAD THE 2024 MULTIFAMILY PHILADELPHIA REPORT 🗺️Discover the Best Neighborhoods to Buy Small Multifamilies in Philadelphia metro https://dwoodsrealestate.com/multifamily_2022 DOWNLOAD THE ULTIMATE REAL ESTATE INVESTOR'S READINESS CHECKLIST 📓Ask yourself the right questions early to avoid making 5- or 6-Figure mistakes while building your rental property portfolio: https://vwoodsenterprises.lpages.co/21-questions-for-new-investors/ Get THE BUSY INVESTOR'S RENTAL PROPERTY PLAYBOOK 🗺️Go from “thinking about it” to buying rental properties: http://rentalportfolioempire.com WANT TO JOIN OUR INVESTOR-FRIENDLY TEAM? Get more info: https://dwoodsrealestate.com/team Let's chat about buying, selling, or managing Philadelphia real estate: 👉Call us: (610) 872-7926 Email: veronica@dwoodsrealestate.com 📆 New Investor Discovery Call: https://calendly.com/veronica-dwre/discovery-call Must watch playlists: 🏘️Check out our investor playlist: https://rebrand.ly/newinvestors 💲Check out our seller playlist: https://rebrand.ly/Phillyhomeowners Get More tips: 📨If you want to get more real estate wisdom beyond the videos, sign up for my email list (sent 2x a month): https://dwoodsrealestate.com/subscribe ABOUT VERONICA Veronica Woods grew up watching her father Daniel Woods build something special: a real estate practice rooted in trust, expertise, and community. Since 1987, Daniel Woods Real Estate has been a fixture in the Philadelphia market, and Veronica is proud to carry that legacy forward. Armed with a BA in Economics from Northwestern University and an MBA in Finance from The Wharton School, Veronica brings a data-driven approach to every client relationship. She works primarily with real estate investors across Philadelphia and suburban Delaware County, guiding them from acquisition to cash flow. Her property management ensures that the investment actually performs the way it was modeled. She's also just a natural connector who loves bringing the right people together, whether that's an investor and the perfect deal, or a friend and their new favorite restaurant. Her mission is simple: help more people use real estate to build wealth, leave a legacy, and design the lifestyle they've always wanted. Veronica Woods Daniel Woods Real Estate PA License SB065736