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Updated over 9 years ago,

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Brandon Turner
Pro Member
#3 Questions About BiggerPockets & Official Site Announcements Contributor
  • Investor
  • Maui, HI
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The Government is dropping my rent 10% ... should I let them? (What would YOU do?)

Brandon Turner
Pro Member
#3 Questions About BiggerPockets & Official Site Announcements Contributor
  • Investor
  • Maui, HI
Posted

Here is a situation I'd love your feedback on: 

My first rental property (the Kurt Cobain house) has had a little old lady living there since I moved out 6 years ago. She has been paying $510 pretty much all along. 

The tenant just got on Section-8 and they will only pay $465 and told us they will not allow her to pay any more out of pocket. Which means her total rent will now be $465, down from $510, about a 10% drop, or $45 a month which is $540 per year. 

So here is the question: 

If she moved, it would cost me about $2,000 to fix up the unit and lost rent. Would you keep her and lose the rent?  She's been a great tenant and if I accept the decrease, she'll likely stay until she passes away 10+ years from now. 

What would you do?

  • Brandon Turner
  • Podcast Guest on Show #92
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