Sec.8 - Tenent Rent Amount is Going Down - Posted by Kevin

Real Estate Investing
#1

Posted by Keivn on May 16, 2007 at 10:01:55:

Thanks guys - I am going to go ahead and start my search for a new Sec.8 tenant.

I absolutely hate to loose my current tenant, as she has been a model tenant so far and took great care of the house.

However, I know she cannot afford to pay an extra $300 per month to continue to stay in the house…right now, she is paying $80/month (based on her contract with sec.8) and she has had trouble making these $80 payments a few times, although I did always get them.

Oh well, let’s hope I can find another dream tenant and possibly extract more rent.

#2

Sec.8 - Tenent Rent Amount is Going Down - Posted by Kevin

Posted by Kevin on April 25, 2007 at 10:19:20:

I have a great sec.8 tenant for 4 years for my 3 BR rental.

Our rental agreement expires in 3 months.

Last week, she told me her daughter moved out of the house.
Due to this, Sec.8 is changing her voucher to a 2 BR instead of a 3 BR. 2 BR only pays $750/mo - her current rent amt is $1,000/mo.

Does anyone know if Sec.8 will allow her to say in my 3BR and pay me the 2 BR amount ($750) and let the tenant pay the remainder ($250)?

Or, should I go ahead and start looking for a new tenant?

#3

Re: Sec.8 - Tenent Rent Amount is Going Down - Posted by Jimmy

Posted by Jimmy on April 26, 2007 at 08:38:57:

you will likely lose the tenant. she does not need the 3rd bedroom now, at least not in the eyes of the housing agency. she qualifies for a 2br now, and that will be a lower rent amount.

if the tenant can make up the difference, great. this doesn’t happen very often in my experience. Sec 8’ers are on pretty tight budgets, and an extra $100 a month will usually be out of the question.

unless the tenants has an unofficial business (I’ve had a few of these, some legal and many illegal). or rents out the extra bedroom (and doesn’t tell housing)…

#4

Re: Sec.8 - Tenent Rent Amount is Going Down - Posted by Rich-CA

Posted by Rich-CA on April 25, 2007 at 18:58:06:

Sec 8 usually contributes a voucher and its up to the tenant to make up the difference. Make sure your lease allows you to evict if the tenant does not pay their portion. Some Sec. 8 units assume rent is paid in full and will object to an eviction for non-payment.