About two years ago, I was signing a lease with Charlotte, a Section 8 Housing Assistant Program tenant (Low - and - moderate income housing subsidized by the Federal Department of Housing and Urban Development). I asked her if she would like the Section 8 Program. She smiled and said, "Yeah, it's a pretty good deal". I laughed and added, "If the government is willing to pay some (or all) of your rent, I guess to my tough question, you would answer the smart way!".

Definitely, Section 8 Program is a definitely good deal for tenants. But, is it a good deal for landlords?

Here are the most pertinent and succinct pieces of advice I would offer to landlords to determine whether allowing Section 8 tenants to rent properties or not:

If your property is higher-end, Section 8 Program has limits on how much Public Housing Agencies (PHAs) are willing to pay based on the amount of bedrooms and whether utilities are included. This leads into item #2.
The rental rates aren't that high. To see if allowing Section 8 tenants to rent your home is beneficial, the cash-flow needs to be computed on a property-by-property basis. On some properties, the cash-flow is good and should be recommended as a viable rental source. On others, it is not advisable.
The property will need to meet many government requirements and will be inspected to make sure it is up to snuff. If the house is newer and kept up, it will usually pass. If it is older, there are usually costs incurred to meeting these requirements; the question is if incurring these costs is worth it.
The process could be slower as Section 8 Program is a government program which always means two things: it isn't fast and features many, many documents to sign.
Payment is guaranteed, but when mistakes are made (aka missing or incorrect payments), getting them corrected is usually arduous. See point #4.

And as a bonus, here is an answer to our most FAQ by far:

Q: If I allow Section 8 Program tenants to rent my house, am I just asking for my property to be torn up?

A: I haven't seen this be the case. There is actually additional protection against a Section 8 Program tenant damaging a home, when compared to a regular tenant. Let me explain. The Section 8 Program has a huge tenant waiting list (no surprise there!). If a Section 8 Program tenant damages the home (or does anything that violates the lease), there is an implied understanding that he/she can be reported and removed from the program. Obviously, the tenant cannot afford for this to happen!

Section 8 Program can be a great option for the right house. Our advice: Use it wisely and selectively!