Anyone doing Sec 8 rental in Indianapolis?

Question

I'm analyzing some deals and getting very different numbers from different people for Sec 8. I was told that Indy just increased the payment standards for Sec 8 this year. However what they will pay for a specific property is much different than the maximum they will pay. Is there a way to find out what they will pay in a given area/type of unit? I'm looking at some multifamilies in the east side. One agent told me a 2 bedroom will rent for around 7-900 through sec 8, and another told me I can get 1200 (not including utilities allowance), so it's a huge difference.

Any other advice regarding Sec 8 in Indy?

James Montague · Answer

They apply the rate to the property and half the time I receive different rates from different vouchers.

It’s basically a made up formula that the over worked people at IHA struggle to apply effectively it seems

James Wise · Answer

It's easy once you figure out how the govt calculates what they will pay. Take a look at the graph I made below, it goes over the Section 8 rent process.

Keith Shadle · Answer

Think I'll bump this thread as I have a now vacant duplex in Marion county and am similarly confused.  I would sell but the new rent increases as @Jennifer T. mentioned has me thinking of renting to Section 8.  Anyone getting total rents toward the new FMR?  Understood that amount includes utilities, correct?  Both sides of my duplex are 3 bed.

Harvey Levin · Answer

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Jaspreet Baveja · Answer

@Harvey Levin - I just accepted my first Section-8 tenant into a 3-bed unit at $1,375/mo where the IHA pays about $1,039 / month. What are your experiences like? Would love to chat! Just got my 1st payment 12/1, which was nice!

Jennifer T. · Answer

I messaged you!

Harvey Levin · Answer

I have over 50. DM me