Voucher system

[Mark Forest]

I just got a call from a prospective tenant who asked if I accept SOS vouchers. She said it is a state voucher system where the government pays 70% of her rent to me. I have heard about Section 8, but she says this is different and her social worker is supposed to call me to explain it.

I have never heard of this, and now I am wondering what this does to my requirements for a credit check and requiring that the tenant have income of at least three times the rent. If the government is paying a portion I guess those requirements can be revised downward?

Also, how do I alter my lease since now the government is involved as a payer.

[Stephen White]

This is why I follow Steve Babiak ! Every post I see has such great answers and insight. And now formulas! Clearly a landlord with some experience.