I am in the process of buying a five-bedroom single family house and noted the tenants (who was placed by the old owner) has a 4 bedroom voucher but was placed in a 5 bedroom unit. I am wondering how difficult it is to get the current tenants out and replace with someone with a 5-bedroom voucher. Anyone insights you could offer would be greatly appreciated!
Hello, which city? it is better to consult with city rent board.
I don't know the SEC 8 rents in your area, but in mine there wouldn't be enough of a rent differential to persuade me to kick out the current tenant and have to incur the cost of getting the house rent ready. Remember, a 5 bedroom voucher holder has to have 9-10 people to qualify in most cases. That's A LOT of wear and tear on the house. Be thankful you already have a 4 bedroom voucher holder, which should bring a strong rent, with no rehab investment.
Thanks, Patti. The difference in monthly rent between 4 bedrooms vs. 5 bedroom is $600, which is not a small number. That
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing