I'm a landlord,what is HUD?
someone ask me if i take hud,is hud like welfare,has anybody rented to people using hud as payment
- Anonymous1 decade agoFavorite Answer
I think renting to people with Housing and Urban Development Vouchers is better than someone paying cash. People who meet income restriction and background guidelines can participate. They also have to wait on a long waiting list in Madison County Illinois it up to 3+ years. The house/apt. has a inspection to ensure it is in livable condition. If the property has already passed a building and zoning inspection it should be painless. Then after signing a lease the tenant will be responsible for the deposit and their share of rent, and the agency will deposit the difference into the account of the landlord. I think its better because you always get your subsidized payment on time and the tenants are more responsible because if they cause damage to a property or aren't current on their share of rent they could possibly be kicked off the program, and you can still take them to court if they cause damages just like regular renters. For specific rules and regulations you should refer to your county's housing department. Hope this helps.
- kgreivesLv 41 decade ago
I rent all my properties through Section 8 and yes there is good and bad renting to a Sec 8 Tenant. But as Kim ( the Answer above ) gave you alot of great information. All states have HUD, section 8 renters and they all follow the HUD guidelines, yes your homes MUST pass an inspection before they will allow a tenant to move in and they will do a yearly inspection. I'm in Florida and the Section 8 tenants here, well most of them, know how to work the system, so your lease is the KEY!!! If you are going to rent out a property you may want to spend a couple of buck and have an attorney make up a lease for you. I found a lease through a web site and just added my terms, I do not offer a grace period, rent is due on the 1st and f it's late I get a $50.00 late charge, I also put a clause in there " my house is not infested or has any type of bugs or vermin, so if the house becomes infested the tenant will need to have the home treated". I get most of my information of the do's and dont's from the Section 8 inspectors. My lease is on legal size paper front and back and the font size is 10 so I have alot in there. If you have any more specific questions please feel free to email me through Yahoo Answers. Good Luck KGSource(s): Landlord of 23 properties in Florida
- sixcannonballsLv 51 decade ago
My husband and I own 12 brand new houses. We rent all of them out. The oldest one is still less then a year old. 7 of the houses are to families on some sort of housing assistance. Let me tell you the pros. You are guaranteed your money every month and the department of housing and urban development inspects them every year so I know they are staying in good shape. These people do not want to lose their assistance so they work hard to keep the houses nice.
You just have to use your best judgment when picking people. Some people are just slobs and your place will wind up ruined. Also, if they are moving in from some sort of shelter. Ask them to not use cardboard boxes. I know this may be hard but boxes harbor roaches and their eggs for years. This was a problem we had about 5 years ago.
I've had no inhibitions though about renting to people on assistance.
- 1 decade ago
HUD stands for Department of Housing and Urban Development. It's a government program that helps families find low income housing.Source(s): www.hud.gov
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- Anonymous4 years ago
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- BiancoaLv 41 decade ago
- chiloverLv 71 decade ago
section 8 rental assistance.
- 1 decade ago
Helping Udina's DeerSource(s): lolololol
- Anonymous1 decade ago