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Updated over 6 years ago on . Most recent reply

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Vincent C.
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21
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HUD / Section 8 lease - termination for new ownership?

Vincent C.
Posted

I am working with a wholesaler on a property that is under market value in Allegheny county, Pennsylvania. The house is currently rented out to a section 8 tenant, with an HUD contract. The lease expired in February of this year, and is currently month to month.

Is it legal to give a 30-day notice to vacate due to new ownership? I want to make sure because if not, I would not want to purchase the property and have no desire to do section 8 housing. I want to make sure I'm not doing anything illegal. In the lease, it does say the lease can be terminated for economic or business reasons, such as sale / new ownership...

What's the best way of handling this? Would the previous owner be able to start the process as a condition of the sale?

Most Popular Reply

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12,464
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John Underwood
#1 Short-Term & Vacation Rental Discussions Contributor
  • Investor
  • Greer, SC
15,184
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12,464
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John Underwood
#1 Short-Term & Vacation Rental Discussions Contributor
  • Investor
  • Greer, SC
Replied

Section 8 is awesome and they will easily adjust rent prices if you ask.

I wish all.my properties could be converted over to section 8.

They pay 110% of market price for my area. The inspect your properties for free which keeps the tenants in line since they want to keep their free government money.

  • John Underwood
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