Buying a property with a section 8 tenant
I am in escrow for a multifamily with one section 8 tenant. Their lease ends in ten months. I understand I need to honor existing leases. My plan is to renovate the property and with the renovations move the rents to market. The property is currently in poor repair with below market rents. So two questions. Do I need to sign up to accept section 8 rents or can I just make the current tenant pay the rent in the lease. Is there any problem with simply not renewing the lease when it expires,
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You should call the Section 8 office in your city and ask about the regulations covering change of ownership and a current copy of the landlord/tenants rules and regulations.