So I just became a Section 8 landlord in Houston....
So far, so good but I am about to attempt to raise the rent significantly and we shall se what happens then. I bought the house with a good tenant installed, only to learn that the previous property manager had done something shady with the contract, giving the HHA a contract with rent of about $1,100 then taking it back to the tenant and adding a $300 "maintenance fee". I've consulted with an expert on this and learned that this was just an idiotic move on the property manager's part since the tenant was approved for more than enough to cover the full market rent of $1,400. I'm not sure how all of this is going to play out, but I have to get a new lease anyway and I'm submitting it with $1,400 which is fair market rent but a big jump up from $1,100. The tenant should end up paying less or maybe even nothing.
Any Section 8 experts want to weigh in on how you think this will play out?
good luck dude
I'm going to the HHA meeting next week to learn more about the process of becoming a section 8 landlord.
Please keep us updated about your experiences.
@Kevin Spring: I went to the New Owner Orientation, I thought it was very informative.
Not only was it "idiotic", it was a violation of the HUD contract. Sounds like you are on the right track for righting it.
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