section 8/HCV market rates

[Timothy Burns]

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? 

[John Underwood]

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.