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Section 8 Slide Show. Landlords Pay Attention!

Section 8 slide show or Plan 8 is an educational slide show that teaches real estate investors about implementing a low-income housing program. We created this Section 8 slide show a long time ago and keep updating it every year. Take a look at the slides. Most of them are interactive and will take you to other web pages for more information.

Section 8 Slide Descriptions

  • Slides 1 – 6. These slides are important Section Eight office locations found in Miami-Dade County, Florida. The eighth largest Section 8 office for low-income housing in the United States.
  • Slide 7. This slide has the web site URL’s that allow Landlords to upload Section 8 properties available “FOR RENT” throughout the United States and its territories. Landlords make sure you list your properties on these sites if you are going to accept housing vouchers provided by the local housing authority.

  • Slides 8 – 16. Miami-Dade Housing Authority requires potential Section 8 properties to be examined by a HUD certified inspector. Their job is to pass or fail certain interior and exterior characteristics of the property to make sure the property has suitable living conditions for the Section 8 tenants. The slides contain items the HUD inspector is going to look at. We provided some pictures of items that are potential points of failure during the inspection.
    Landlords, a missing circuit breaker that will fail a property during a Section 8 HUD inspection.

    This is a common failure item during a Section 8 HUD inspection. Why?

  • Slides 17 – 23. An itemized list and pictures displaying the most common points of failure during a property inspection. This is great information for Landlords while preparing for a HUD property inspection.
  • Slide 24. A summary of steps the property owner must execute for their property to be approved by the county’s Low Income Housing Authority.
  • Slide 25. GOT Questions? Who You Gonna Call? Yeah Baby!

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February 15, 2013 · Bob Burns · No Comments
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Change of Ownership? What about the Section 8 Tenant?

Bundling Tenants

Change of Ownership occurs frequently among real estate investors. One of the most successful investment strategies for real estate investors that sell properties for a living is bundling the tenant with the sale of the property. Why? Here are some valid reasons:

  • Instant Cash Flow. Hopefully the previous owner had the property cash flowing before you bought the property. Make sure you crunch the numbers.
  • No hassles with finding a tenant. Application processing…advertising costs…
  • No rehabbing costs.
  • No lost rental payments. Usually takes 90 days to find a tenant.
Florida City Section 8 Property

Florida City Section 8 or Plan Ocho Property.

 

Both the BUYER and SELLER like the idea of the tenant being bundled with the sale of the property. BUT…..What happens when the investment property is subsidized by HUD's Section 8 or Plan Ocho program? Is this going to be a problem when the property changes ownership for the new owner?

The BUYER and SELLER must take the appropriate steps for a smooth transaction with no problems. Here are some of the potential problems you can avoid:

  • Section 8 rental check will be sent to the old owner.
  • Check will be made out to the old owner.
  • Tax problem. Old owner will be liable for taxes on a property he no longer owns.

Change of Ownership

When a property that is subsidized by HUD’s Housing Choice Voucher HCV (Section Eight) program is changing ownership the Local Housing Authority must be notified to ensure payments are sent to the proper owner.

To do this transfer, the new owner must schedule an appointment to fill out the “Change of Ownership Package“. In order to complete this package you will need the following documents:

  • Recorded Warranty Deed. If it is available.
  • Settlement Statement if Warranty Deed is not available.
  • Social Security Number or Employee Identification Number EIN.
  • Driver License.

Once these papers have been processed, the new owner should start receiving their monthly rental checks.

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A review of what happens when there is a change of ownership of a Section 8 property.
Miami-Dade County
Miami, Florida
33133
US
305-582-5280

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June 8, 2012 · Bob Burns · No Comments
Tags: , , , , , , , , , , , , , , , , , , , , , , , , , ,  · Posted in: landlord, Public Housing Authorities, Section 8