Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 9 years ago on . Most recent reply

User Stats

41
Posts
17
Votes
Kenneth Wong
  • Bronx, NY
17
Votes |
41
Posts

Section 8 Housing

Kenneth Wong
  • Bronx, NY
Posted

Hello BP Community,

I have a Mother/daughter in Waterbury CT which I have had on the market for over a year. I met a fellow that has Section 8 and really wants to lease-to-own this property. Section 8 would pay $900/month and he would add another $800 per month.  Here is my dilemma: Section 8 does not allow for additional agreements in connection with their tenant-landlord agreement for which they pay. I would need to have assurances through a separate agreement for the additional $900 per month, which would mean two agreements. The tenant agrees to 2 month security/first month rent up front. Does anyone have an experience from a landlord perspective how this works?  I do not wish to break any laws here, but it certainly seems like I am being asked to do so, to "guarantee" that I can collect $1700/month.  The "side" money I'd from Social Security which would also be direct deposited to my bank. Thanks in advance as I weight this offer. -Ken

Loading replies...