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Updated over 13 years ago, 06/21/2011
How to "income qualify" a section 8 tenant?
What ratio's do you LL's use to qualify a section 8 applicant? I have a prospective tenant with a voucher for $1,575 (the rent amount) and an SSDI income of $908/yr. This person also receives food stamps in an unknown amount.
It seems to me that they don't meet my income ratio's of about 35-40% (meaning that rent should not exceed 35-40% income). If you count the voucher as income, you have 1575 plus 908. About $2,480 in income. Is there a special consideration for section 8? They do not meet my criteria but I haven't had this issue before and don't want to run into any legal issues. They are being extremely persistant about leasing the place.