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Updated over 5 years ago on . Most recent reply

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Steven Pressey
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Section 8 voucher higher than fair market

Steven Pressey
Posted

I'm moving out of my primary home in a class A/B neighborhood and am considering renting to section 8.  Fair market rent seems to be $1900 according to rentometer and zillow, however sec 8 voucher for my zip code 5 bedroom is $3105.  Can I include utilities and charge $3100 for section 8, or will I be required to stay closer to fair market rent?  

I'm in the Colorado Springs Area and my single family home is a well maintained 3 car garage,  3k sq ft, walkout basement on a 3rd acre lot with kids play set installed.  

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Patti Robertson
  • Property Manager
  • Virginia Beach, VA
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Patti Robertson
  • Property Manager
  • Virginia Beach, VA
Replied

The rent that you can get is a complicated assessment. Not only do you have the HUD budget/bedroom size, as you indicated you also have to be "reasonable" compared to non-SEC 8 compls and you have to be "affordable" for the tenant who is applying. I wrote a blog that explains all this and gives strategy for getting the most you can get. Here is a link if you want to check it out.

https://www.biggerpockets.com/member-blogs/9232/55313-intro-to-section-8---your-perceptions-vs-my-realities




  • Patti Robertson
  • 7574722547

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