HCVP Approved Rents Question
I am currently under contract for a 4 bedroom 3 bath home in Columbia Heights that I plan to live in for a year with roommates and then look for HCVP voucher holders to rent the entire home in the 2nd year. When running my numbers is it safe to just use the approved HCVP rents for a 4 bedroom in that neighborhood or is that just the upper limit that the rent could be and I should expect to receive less?
The home is nice and has central AC, washer/dryer and decent finishes. I'm not sure if this has an impact on the HCVP rent or it is just the number of bedrooms.
Any advice or experiences people have had would be great. Thanks!
Sorry if this is a duplicate, I think I posted it in the wrong place the first time.
Hi Brendan, If you are using the standard for that area you should have no problem. Best, Teresa
Why not make a few renovations and turn it into a 5 BR. You will get more money. Yes, you can use the top limit on the website https://www.dchousing.org/vue/... I would choose the option that does NOT include utilities. I've got 10 units on HCVP in DC, if you have more questions, reach out.
Thank you everybody for the responses! @Amanda Gant thank you for the advice we actually were able to add a 5th bedroom to the property so that is our plan. I would love the opportunity to be able to pick your brain about any advice you have working with HCVP.