I tried to sell last renovated house but my reserve is not met. I don’t want to take loss so now I am trying to rent it out to section 8. Found it seems nice prospective tenant, she is delighted with the property and says she will give any (!) deposit. But when I ask monthly rent for it, she sounds surprised. I will pay application fee ($30) but monthly rent as deposit? Now I am surprised.
This is my first dealing with section 8 and I am not sure what is the general rule of thumb when you meet with prospective tenant? My regular tenant gave me monthly rent as security deposit as inevitable but appropriate step on the way of moving in, but if there is different rule for section 8 in this matter?
Please, your insight would be so appreciated.