Loganville, GA · Member since 2017 · 22 posts · 1 vote
I am interested in putting a property I own and accepting Section 8. I would like to hear past experiences and also what guideline you had to go through to be added to the list. The property is in Fayetteville, NC, I know it varies from state to state, but any information would be helpful. I was told that the state/government would be willing to pay market rent value for your property and in most cases it is more than what you would receive through a private or traditional tenant. Is this true? If so what determines the market rental value of a property?
Guy with Great Hair · Austin, TX · Member since 2013 · 2k+ posts · 4k+ votes
8y
I have a bunch of properties in Fayetteville and a few of them are section 8. I love S8!
Section 8 will pay market value for your unit, with some discretion. In this are the market rent and the section 8 rent aren't so different, however, I have found there is a small niche of value:
if you have a 3/1 or 3/1.5 as S8 they will pay $700-750
if you have a 3/2 you can get 800
if you have a 4/2 you can get up to 950
so for a few houses we have bought them as 3/2 and converted them to 4/2 (obviously when possible) and it gets us a much higher rent than the property would normally warrant.