Need advice on Housing Choice Voucher Program (Formally known as Section 8)
I recently just purchased a duplex and plan to rent out one side for section 8/VA VASH program. One thing that enticed me was the potential for higher rents by honing in on the SAFMR and the zipcodes. However, after collecting more information from PHA they stated I should aim to rent the unit at what other units nearby are renting out for and NOT go as high as the SAFMR states you are allowed to go. Is that accurate? Am I not allowed to use the SAFMR rate and MUST use the local comps instead? Does anybody have experience with this?
Most Popular Reply
You can ask for whatever you want for rent. It is still a free market.
If you are too high, market rate customers will ignore you. Someone with a voucher may still want to lease your unit even if the rates are above market because they are not paying. The agency, of course, is trying to maximize its resources, so would love to have you charge less rent.
If your focus was primarily on gaining excess rent, keep in mind that there is a reason many landlords will not take vouchers.