Switching Mid-Lease to Accepting Section 8
Hi BP Friends,
I have a tenant in PA that reached out to me a few months into her new lease asking me to pursue the process of accepting Section 8 vouchers. After completing the paperwork with the county HUD, the agent came back and said that due to their income analysis on my tenant, they would only make contributions if I cut the rent in half. Since I'm not willing to do that, do I have any other options? The tenant's brother is not on the lease but helps her financially since she is a widow. He offered to make a lump sum to pay off the difference in rent that I would lose out on for the remainder of the lease term. Another suggestion was to draft a separate agreement with him to cover this lost balance each month. Obviously none of this is giving me a good feeling. I'm trying to work with them, but I also don't want to put myself into an accounting mess and misrepresent myself. Any suggestions or experience with this type of issue?
Thanks Everyone,
Christian