HUD Vouchers - What Hampton Roads Landlords Need to Know!

NOTE: Sweetwater had a conflict on our normal meeting date, so we are meeting the THIRD Wednesday of August.

With 90 SEC 8 and HUD VASH vouchers in our management, we can share the good, bad, and ugly about the HUD programs. The biggest benefit of a voucher holding tenant is a long lease term. I (Patti) have had several tenants with SEC 8 vouchers who have been in my homes for 15 years, as long as I have owned them. Our average lease term for a voucher tenant is double what it is for a non-voucher tenant. That said, the program comes with risks and frustrations, which we will discuss at this lunch & learn. If you own more than 4 units this is an important session to attend, because you are required to take vouchers. If you own less than 4, you would still benefit by the longest lease terms among our Hampton Roads tenant groups.

Housing law testers are in our state, and several landlords have gotten HUGE fines, which we will talk about. How you answer inquiries about your advertised rentals can subject you to scrutiny you don't want!

I will also share an update on the largest lawsuit my litigation attorney has ever managed, and the largest I have ever heard of among my landlord friends nationally. Unfortunately the defendant of the case are myself, my firm, and my landlord client who have been sued for $137M. By the time we have this meeting our case will have been heard, and I can share the scenario so you can learn from it.

THE VIRGINIA REAL ESTATE INVESTORS ASSOCIATION needs your help! They are organizing a fund raising auction in our market to raise funds for our state lobby efforts. Stuart Pollock who heads up PREIA is organizing the volunteers. If you can spare some time to assist, Stu would greatly appreciate your help, as would all of your fellow landlords who will benefit from the event. If you don't have Stu's number and want to help, reach out and I will introduce you.

ACCURATE RSVPs ARE CRITICAL TO ENSURE WE HAVE THE RIGHT AMOUNT OF FOOD! Sweetwater Cuisine is a catering company known for their amazing culinary skills and will be serving us a buffet lunch for an all inclusive price of $25/person, which includes the space, meal, tax and tip as long as you RSVP. If you attend without RSVPing you can pay $30 at the door. Please note: EVERYONE WHO ATTENDS MUST PAY FOR LUNCH, WHETHER YOU EAT OR NOT. This is the only way we can keep this a free club. The venue provides us a beautiful space and AV equipment all for the cost of our lunch.

IF YOU HAVE ANY FOOD ALLERGIES OR DIETARY REQUIREMENTS, PLEASE CONTACT SWEETWATER CUISINE DIRECTLY AT LEAST ONE WEEK PRIOR TO THE EVENT AND THEY WILL DO THEIR BEST TO ACCOMMODATE WITH EITHER OUR MENU OR AN ACCOMMODATING MEAL.
All menus include soft drinks, tea, and coffee. Use of the space is included in the cost per person.