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[quote=Anonymous][quote=Anonymous]Not the OP's question...but why would anyone take on a Section 8 tenant? I'm assuming D.C. has a tight rental market and landlords get their pick of renters.[/quote]

First, the rents are pretty good. A 2-bedroom in a nice part of DC can rent through section 8 for over $3100 a month with utilities included. There are a lot of older buildings where that is more than you'd get with a market-rate tenant.

Second, the rent is guaranteed. If my tenant loses his job, DCHA just pays a bigger portion of his rent. During the eviction moratorium, tenants without vouchers are coming up on 13 months where they might not have paid anything at all, and it's not like there are lots of buyers for tenant-occupied condos or multifamily buildings where the tenants aren't paying and can't be forced to leave. If I'd had a market-rate tenant who didn't pay, I might have wound up mailing the keys back to the bank and walking away...and I have good reserves and a steady job outside of real estate. Instead, I get enough to cover my expenses from DCHA. If the tenant pays, it's gravy. I just make an extra payment towards my mortgage principal.

Third, you can't discriminate based on source of income in DC. If someone comes to you with a voucher and otherwise meets your screening criteria and you turn them down, you could be faced with a lawsuit and fines. Of course there are ways of screening out all Section 8 tenants (price it above the neighborhood's payment standards) or many of them (credit checks, criminal background checks, high application and move-in fees and security deposits) but you can't just advertise "no section 8."

Fourth, some people actually like providing affordable housing. I've had my share of ups and downs with my tenant, but it's cool that his kid gets to go to a better school than before and live in a neighborhood with a lot fewer shootings. And I know their old unit had mold and probably lead paint, and their current home doesn't. [/quote]

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