Updated over 7 years ago on . Most recent reply
HUD / Section 8 lease - termination for new ownership?
I am working with a wholesaler on a property that is under market value in Allegheny county, Pennsylvania. The house is currently rented out to a section 8 tenant, with an HUD contract. The lease expired in February of this year, and is currently month to month.
Is it legal to give a 30-day notice to vacate due to new ownership? I want to make sure because if not, I would not want to purchase the property and have no desire to do section 8 housing. I want to make sure I'm not doing anything illegal. In the lease, it does say the lease can be terminated for economic or business reasons, such as sale / new ownership...
What's the best way of handling this? Would the previous owner be able to start the process as a condition of the sale?
Most Popular Reply
#1 All Forums Contributor
- Investor
- Greer, SC
Section 8 is awesome and they will easily adjust rent prices if you ask.
I wish all.my properties could be converted over to section 8.
They pay 110% of market price for my area. The inspect your properties for free which keeps the tenants in line since they want to keep their free government money.