Toledo Section 8 Questions

[Ryan Conklin]

Does anyone have any section 8 rentals in Toledo, OH? I am looking into some property in 43609 and would like to go the section 8 route when the units are ready. What are rents like for section 8 in the area? What are the requirements?

Thank you!

[Mike Mocek]

Hey There @Ryan Conklin, Depending on the asset, will depend on the section 8 income as well as the voucher amount for the potential tenant.  There are plenty of factors that fall in line when it comes to section 8.  The good thing is, the tenants are out there searching for houses so you really do not need to fish too long before you find a tenant.  Once a tenant is located, Section 8 will come in and do a thorough inspection (It is important that the contractor or Property Management company you use (Like mine) has extensive knowledge on the expectations of Section 8 rentals.  From there, a rent determination will be completed by Section 8, as long as the marketed rent rate is realistic you are safe, if not, Section 8 may come back with a reduced number.  You either take it or leave it kind of conversation, they do not negotiate at all.

I would suggest doing a "Section 8 Toledo" search in the forum and you will see a bunch of threads in the past that deal with this question, you will be given a lot of information but you will most likely find what you are looking for fairly quickly.  Just keep in mind, each Housing Authority has their own rules and quirks.  I have investments in 3 markets here in Ohio and I have seen a better turn around in Toledo than the other markets.  I would also suggest partnering up with my broker, Andrew Fidler with LaPlante Real Estate, he has extensive knowledge (Personally and Professionally) on this topic and is a gold mine of information!

I will be more than happy to answer any other questions or hop on a call if you are interested.