Updated almost 8 years ago on . Most recent reply
Rental Increase for Sec 8
Hello all. I have a duplex that currently has 1 tenant receiving a partial Sec 8 voucher. I purchased the unit about 3 months ago. The tenants (older married couple) are excellent, have been there 4 years, very low maintenance, mow the grass. I would like to keep these tenants. They are currently paying $450 a month in rent and have not received an increase in their history. Their portion of the rent is $115 a month as well as utilities. Sec 8 is picking up the rest. My question is, based on rental comparisons from my management company, who report they do a lot of Sec 8 tenants, the market rent comps are $575. If I raise the rent to $575 will Sec 8 automatically pick up the rent increase since the portion the tenants are paying would be considered the 'most' they can pay each month?