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Updated about 3 years ago on . Most recent reply

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Elidania Ayala
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Question about Section-8 and Rental increase request

Elidania Ayala
Posted

How do I go about finding information about comparable units to submit a rental increase request for my rental properties in Chicago, IL? 

These are the requirements: units have been rented in the last 12 months; units are not subsidized units; units are within a 1 mile radius of the subject unit. I am more so trying to find units that are currently being rented, rather than ones that are "for rent" right now. What I have been getting when searching is ones for rent, and I need to find ones being rented currently rather than those that have been sitting empty without renters for months. 

Is there a website that will allow me to input these parameters to get the comparable units I need? Or how do you guys go about finding comparables for your units? 

Most Popular Reply

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John Warren
  • Real Estate Broker
  • 3412 S. Harlem Avenue Riverside, IL 60546
5,096
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John Warren
  • Real Estate Broker
  • 3412 S. Harlem Avenue Riverside, IL 60546
Replied

@Jonathan Klemm I have had to pull comps before for clients who are using S-8 and other subsidized programs. The programs have the HUD guidelines, but they also do require this from time to time.

  • John Warren
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