Updated almost 9 years ago on . Most recent reply
Section 8 Tenant Screening
Hello all,
I am looking to purchase my first investment property and I am considering the Housing Choice Voucher Program (Section 8) given that the property is located in a low-income area. I have read many posts which advise to screen HCVP tenants the same way I would non-HCVP tenants. It would seem to me, however, that the salary requirement of the tenant making 3x the monthly rent does not necessarily apply to HCVP tenants as they are receiving government assistance every month towards rent.
Question #1 - What is a good "rule of thumb" for HCVP tenant salary requirements?
Question #2 - Should I have two separate rental applications - one for HCVP tenants and one for non-HCVP tenants? If so, what would be the differences other than salary requirements?
Thank you.