Updated about 1 year ago on . Most recent reply
Section 8 | Connecticut
Hi all – I'm working on purchasing my first duplex! So far I've been house hacking a single family with coworkers, but I'm ready to move out and get a second property. I found a duplex that's in pretty good shape (just needs cosmetic updates) and is listed at a good price to cashflow. The only thing causing me hesitation is one unit has a section 8 tenant who's paying several hundred under market rent. Their lease doesn't expire until November. The unit is in pretty good shape other than being a little cluttered. I was able to meet the owner at the showing and he said this tenant has been great and has been living in the house for 16 years. He hasn't raised the rent because he'd rather keep a good tenant and didn't want to deal with finding a new tenant.
I'm looking for any general advice going into this situation as it will be my first time dealing with section 8. I know I have to honor the current lease until November, but how hard is it to raise the rent on a section 8 tenant if it's currently under market rent? Or if I choose to find a new tenant, is it more difficult to not renew a section 8 lease vs. any other tenant? TIA!