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Updated almost 10 years ago,

User Stats

4
Posts
1
Votes
Ruarri Miller
  • Investor
  • Providence, RI
1
Votes |
4
Posts

Section 8 question

Ruarri Miller
  • Investor
  • Providence, RI
Posted

I recently rehabbed a foreclosure with the intention of using it as a student rental. It's two blocks off a college campus. 

I was unexpectedly approached by a family with a section 8 voucher for $1100, which is the market allowance for a 4br in Providence. I've never had a section 8 tenant. My asking rent is $1900 which a reasonable for a student rental. The family told me that they'd pay the difference between the $1100 and $1900 in cash. They told me this arrangement was "normal". 

This voucher plus cash arrangement is illegal according to what I've read, but apparently common. Which makes sense because the voucher allowance from seems to be $200-$300 below market in most cases here in Providence.

This question aside, the family checks all the right boxes for me and I'd happy rent the family the home.

What should I do?

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