Episode 69: Section 8 Nuts & Bolts and More from the Landlady - With Wendy Myers
Summary
Wendy Myers, the Landlady, is back on the show! As one of the most savvy landladies around, Wendy gives us the run down of Section 8 housing, how rent increases are a must, and the growing frustrations about insurance costs and coverages. Join me and Wendy as we tackle more rental issues!
Listen to full episode :
This Week’s Blog Post:
Episode 69: Section 8 Nuts & Bolts and More from the Landlady – with Wendy Myers
Welcome back to the podcast, where we explore the ins and outs of being a landlord. Today, I'm thrilled to welcome back Wendy Myers, a seasoned landlady with years of experience under her belt. Our conversation today dives deep into the world of Section 8 housing, insurance challenges, and the importance of regular rent increases.
The Growing Challenge of Insurance Costs
Wendy shares her struggles with skyrocketing insurance costs, a challenge many landlords are facing across the board. From policies doubling in price to insurance companies withdrawing coverage for older properties, it's clear that the insurance landscape for rental properties is becoming increasingly difficult to navigate.
The Essentials of Rent Increases
Wendy advocates for annual rent increases, emphasizing their necessity to keep up with rising costs. Incremental increases can help landlords manage expenses without overwhelming tenants, ensuring a balanced approach to property management.
Demystifying Section 8 Housing
For many landlords, Section 8 housing remains a complex area. Wendy breaks down the process, from understanding vouchers and dealing with housing authorities to ensuring properties meet Section 8 requirements. She highlights the importance of regular inspections and maintaining a good relationship with tenants and caseworkers to ensure a smooth Section 8 experience.
Wendy's Next Steps
Aside from tackling the everyday challenges of a landlady, Wendy is also a prolific author. She discusses her latest book, aiming to help families organize their chaotic lives, and teases her upcoming work focused on landlord FAQs.
Call to Action: Explore Section 8 in Your Area
For landlords intrigued by Section 8 housing, Wendy recommends reaching out to local housing authorities to understand the program better. This initial step can open doors to new opportunities and expand your rental portfolio in meaningful ways.
Join me next week as we continue to explore the multifaceted world of landlord life. Whether you're a veteran or just starting, there's always more to learn and share in this ever-evolving industry.