Real Estate Investor · Chicago, IL · Member since 2016 · 31 posts · 15 votes
Hi all -
Does anyone here have experience with accessible housing in Chicago and renting it to CHA / Section 8 tenants? I've read that these properties can qualify for up to 250% Fair Market Value (see link below) provided the property is handicap accessible and meets the various ADA standards and guidelines. Wondering how your experiences have been so far, and where you sourced these tenants who have disabilities/require accessible housing.
Property Manager · Roselle, IL (Chicago Suburb) · Member since 2013 · 2k+ posts · 1k+ votes
6y
@Mitchell J. We have tenants on these mobility programs but it is important to run your numbers at market rent and if you get a mobility tenant then it is a bonus. Many mobility areas have higher market rents compared to the CHA standard so 250% might be closer to market rate when you look at areas closer to downtown.