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Updated almost 5 years ago on . Most recent reply

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8
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0
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Nicole Schertzer
  • Rental Property Investor
  • Albany, NY
0
Votes |
8
Posts

New to Section 8 with 2 different vouchers

Nicole Schertzer
  • Rental Property Investor
  • Albany, NY
Posted

(Located in New York) I am about to close on a house that I purchased to rent to a family member. Her application for section 8 has not been approved yet. While she is waiting for hers to come through, which would be much higher ($1,400), she wants to use her boyfriends. His is much lower ($750) Can I rent to one section 8 tenant for one price ($750) and then raise the rent for my niece ($1,400), with a new contract, at a higher rate? In other words, is the house approved for section 8 based on the house itself, or can I rent to new renters with a higher voucher? I want to make sure I don’t low ball myself by taking someone only approved for a $750 voucher. It’s a 3 bedroom house and the boyfriend is approved for 1 person. The niece will be approved for 2 plus a baby on the way. The market rental price is between $900-1,700. So for his rate alone, it will be lower. Will he not be approved because the house is deemed too big for one person, even through I will accept his rental voucher? I hope this makes sense. Right now with the corona virus, I can’t get a human on the line to answer my questions.

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