Transitioning Out of Section 8 Tenants

[Gilbert Hsu]

I'm considering buying a 3-family rental property in which the entire building is currently leased to Section 8 tenants. In this area of Boston, MA, the Section 8 rental subsidies are significantly lower (15-20%) than market rate. That said, I'm looking for insight on how to legally and strategically transition the building back to standard, non-section 8 tenants.

If purchased, I fully intend on honoring the balance of the leases (about 9 more months). I hope to avoid any conflicts and make the transition as smooth as possible.

Thanks in advance for the help!