Section 8: How much will they pay - Posted by vern(MD)

Posted by Arthur on July 06, 2003 at 24:40:24:

"They are supposed to pay only the amount that the unit would rent for on the open market.

The best way to find this out is to ask around with other people that have rentals in your area and find out what they are getting from Section 8.

NT "

Maybe its a case that section 8 dept don’t know what the market rents are, or pay over the odds due to the lack of property available to these people, as not everyone will accept Section 8.

Section 8: How much will they pay - Posted by vern(MD)

Posted by vern(MD) on July 05, 2003 at 11:29:30:

Hey B-more guys (or anyone else),

I need help. How can I find out how much section 8 will give for a particular property? I know that an Section 8 Fair Market Rent sheets is available. But this data appears to be the max that section 8 will give for a home (it’s listed by # of bedrooms and county/city), they can and do often pay less.

Thanks,

Vern (MD)
realstaronline@hotmail.com

Section 8: Search the archives… - Posted by Hal Roark

Posted by Hal Roark on July 06, 2003 at 08:22:16:

there are a ton of great tips therein about this fantastically profitable niche.

Hal

Re: Section 8: How much will they pay - Posted by Greg - Syr

Posted by Greg - Syr on July 05, 2003 at 14:10:44:

Call your city/county’s sec. 8 department. They have an average of what “will” be paid. Here in Syracuse, NY, the pay goes by how many bedrooms are in the apartment/house.

I can get:
1br - 536(fair market 350)
2br - 659(450)
3br - 842(600)
4br - 933(open)
5br - 1073(open)

They often pay less because the landlord has a unit that does not exceed the sec 8 standards. His/her rentals only pass the inspection. They can probably be fixed up a lot better.

Greg

Re: Section 8: How much will they pay - Posted by Nate(DC)

Posted by Nate(DC) on July 05, 2003 at 12:34:25:

They are supposed to pay only the amount that the unit would rent for on the open market.

The best way to find this out is to ask around with other people that have rentals in your area and find out what they are getting from Section 8.

NT