Section 8 fair market rent chart .how far is this number from reality?

[Itay Heled]

Hello members !

I have a 3 BDR one bath  house in Maple Heights Ohio that I am considering renting to section 8 tenant .CMHA chart for the house zip code showing a max rent of around $2000 for 3 bedroom.

I know market rent of my house is approximately 1300-1400 $

I am adding efrigerator and oven.

The house is older but in decent shape. Can someone who is expirienc with section 8 estimate what would  get ?

thanks!

itay

[Carl Millsap]

Itay, 

In my experience Section 8 is based on the persons voucher/ situation. Although max rent maybe $2k they may only give $1k on the tenant's behalf, the tenant would pay the difference in your case $300-$400 it depends on their specific case. 

I've had properties listed for more than what section 8 wanted to pay, we had to provide comps that their estimate was wrong / out of date for similar apartments. 

I would contact the housing authority who manages the S8 program in your area to get an accurate ideal of how they determine what they'll pay on the tenant's behalf. I would also ask for the inspection checklist so you can ensure your place will pass inspection. 

Hope this helps.