Upland, CA · Member since 2015 · 31 posts · 13 votes
I'm looking to purchase a property with 2-4 section 8 tenants through the Cincinnati Metropolitan Housing Authority (CMHA). Does anyone have experience with this agency? They track "rent reasonableness" when approving rent raises. But, am I going to have issues raising rents in the future?
What has been your experience with section 8 tenants? Thank you.
HUD has a website of "Fair Market Rent" for the whole country broken down by either county or zipcode. The "Fair Market Rent" by their definition is the Median Rent which is where 50% of rents are higher and 50% are lower. HUD uses that rent figure for determining Section 8 rent. Those figures come out year before October 1, the beginning of the Federal fiscal year. The figures are determined by surveying actual landlords by the local county administer of Section 8. As a landlord we have participated in their survey for multiple years. Usually, but no always year to year the rent is going up, but there were some years where the rents went down.