Updated over 10 years ago on . Most recent reply
Utah Section 8
So I'm considering a multi unit property that could be well within the 1% rule for the Salt Lake City area. The only catch is that the current tenant is Section 8. I'm pretty sure that the advertised rent with section 8 is about 200 dollars below fair market value. How easy/difficult would it be to raise the rents to the appropriate amount when renewing the contract? What all is involved with Section 8? Am I crazy to be considering my first deal to be Section 8? Thoughts?
(The property as is is below its market value in rents, but I would still be updating the properties to rationalize an increase in rent.)