Good morning BP members,
Section 8 has published monthly rental rates based on the number of bedrooms the property has. For example, in Charlotte - S8 pays $628 for a 2 bedroom SFH.
Does this mean that they will pay up to that amount - or does it mean that they will pay that amount for any 2 bedroom in any location within their boundaries?
Many investors find that the local housing authority is not investor friendly. I have an associate who had an awful time with the Charlotte Housing Authority - told her her rent was too high (they use Zillow for rent comps). Once they resolved the rent, their inspection criteria was onerous. It is a shame because Charlotte is losing affordable housing due to population & rent growth. You can find many threads on BP about the pros & cons of Section 8.
Rents for two bedroom units in Charlotte range from 700 to 850 based on location & quality.
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