Landlords suddenly hot for Section 8 renters

Gosection8.com
Gosection8.com

Section 8 tenants, not unlike the girl no one wants to ask to the dance, are enjoying a sudden surge in popularity.

They were unwanted when the market sizzled because the rent on their units is capped and landlords equate higher-income folks with being able to pay top dollar. But now, with greater vacancy rates and more people out of work, landlords are scrambling for tenants. And suddenly, Section 8 tenants are a hot-ticket item again.

The number of new landlords opting into the U.S. Dept. of Housing and Urban Development Voucher Participation Program -- which offers housing assistance to very low-income people -- shot up 18% so far this year, according to a company that tracks the trend in certain U.S. cities. GoSection8.com president Richard Cupelli says that Phoenix, Dallas, Oakland and San Diego -- where builders overshot like drunken gamblers -- lead the pack in the Section-8 rental comeback.