I'm looking at a duplex in Atlanta. One unit renting to section 8 for $1103 per month the other side $800 which is close to market rate.
With the $1103 per month for both side the deal meet the 1% rule. However the deal dont make sense with a market rate tenant.
My question is.. 1) Can you rent both units in a duplex to selection 8 at one time? Or are there a certain % that can be selection 8 occupied in a building?
2. Can I expect both units to get same rent from selection 8 if they are identical units.
3. Do you analysis a deal based on selection 8 or market rate.
there isn't a cap on how many units of your property can be rented to Section 8 voucher holders. However, each unit will have to pass a Section 8 inspection prior to the voucher holder moving in. After the inspection, you'll negotiate a fair market rent price with the Atlanta Housing Authority based on comparables. Since you have one comp in your second unit, you will likely get close to that number again, assuming both units are in the same condition. The Atlanta Housing Authority has a lot of info on their website for property owners. Here's a link to the site: https://www.atlantahousing.org...