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Updated over 6 years ago on . Most recent reply

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5
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Logan T.
  • Rockford, IL
0
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5
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Rental Increase for Sec 8

Logan T.
  • Rockford, IL
Posted

Hello all.  I have a duplex that currently has 1 tenant receiving a partial Sec 8 voucher. I purchased the unit about 3 months ago. The tenants (older married couple) are excellent, have been there 4 years, very low maintenance, mow the grass.  I would like to keep these tenants.  They are currently paying $450 a month in rent and have not received an increase in their history.  Their portion of the rent is $115 a month as well as utilities.  Sec 8 is picking up the rest.  My question is, based on rental comparisons from my management company, who report they do a lot of Sec 8 tenants, the market rent comps are $575.  If I raise the rent to $575 will Sec 8 automatically pick up the rent increase since the portion the tenants are paying would be considered the 'most' they can pay each month?

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