I'm closing on a condo in Aurora, Colorado, that currently has a section 8 tenant on a month to month lease. I plan to continue renting to her but I would appreciate some help on what to include in her lease agreement that is specific to Section 8 but I haven't been able to find any template language to add to the contract. I would be so appreciative if someone can provide me suggested language to add to my lease agreement that will cover this subject. Thanks!
There is an addendum called the HAP agreement that is added to the lease between the housing authority and landlord that you’ll want to make sure to get a copy of and that is what you utilize for the housing terms and rules/regs.
@Amber Paul I have not heard of anyone adding specific items related to section 8. As mentioned, there is a HAP agreement you have to sign. The Housing Authority can take a while and like any government agency has paperwork. Get with the tenant, the housing authority and get all of that and get it completed before you close if you can.
Finally, there is a book called the Section 8 Bible. I have not read it as I don't really do too much section 8 but I have heard it's very helpful. It would be a good idea that and read it before you close. One thing to note, if you want to raise rent, then you need to execute year lease. It's worth tracking what Section 8 is paying for your type of unit so you know what you can charge.
I have a SEC 8 blurb I use in my lease included in a blog I wrote with lots of tips and trick for SEC 8. I'll put the link below. Chances are because you are a new payee, SEC 8 will make you sign a new 12 month lease, and not assume the MTM lease. Call the case worker and ask for clarification.