Updated over 1 year ago on . Most recent reply
For section 8, how to structure lease payment/ terms?
Hi all - for those renting to section 8, where the term of the lease could start on a random date when you pass their inspection (say April 9), how do you set up terms of payment with the tenant once their portion is determined? Specifically, do you stipulate rent is due on the typical 1st of the month? If due on the 1st, do you pro-rate the tenant's portion of the rent for the remainder of the month when the lease starts and also prorate their portion for the days in the last month up until the lease expires? (The example would be to prorate from Apr 9 to Apr 30, and then pro-rate Apr 1 to 8 of the following year when the lease ends.) Any suggestions on the simplest way to go about this?