Section 8

[Meg K.]

So, after 2 months of vacancy, i've decided to rent to section 8.  A realtor who was looking for a place for his client said, "....plus section 8 pays more..." (I have no experience renting to section 8)...so my question is, if i have already stated a rental amount, can i change it when i decide to rent to someone with a section 8 voucher?  WIll the inspector volunteer this information..as in can i ask "what is the fair market rent" of my unit?  Understandably, my unit is very nice, in a 1920 house, but in a not-so-great area...

Thanks, Meg

[Jeff B.]

Section 8 will set limits on rents:

• equal to other tenants in this facility
• OR
• market rate in your community

S8 will also dicker with your lease terms.

Section 8:

1. PRO:  Secure rent payments
2. CON:  You loose control 
3. Neutral: Your S8 tenants are no  better and no worse than any others.