General Landlording & Rental Properties
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated almost 10 years ago,
Section 8 question
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?