Updated almost 3 years ago on . Most recent reply
section 8/HCV market rates
Hi guys, if you are aiming to do section 8/HCV with a property, and you know the fair market rent rates that the housing authority governing your property uses, how do you know what to ask for rent and how to screen for a tenant so that you can get the highest rent closest to the listed payment standard used by your local housing authority?
Ex: I am in KCMO and I have a 3bd/2ba unit, and the payment standard listed is $1683 for a 3 bd.
How do I know what to advertise so I can get as close to that as possible?
Most Popular Reply
John Underwood
#3 All Forums Contributor
Pro Member
#3 All Forums Contributor
- Investor
- Greer, SC
You just need to advertise market rent. HUD has a formula they use to determine affordability and it will come out different for each applicant.