What do I need in my appartments to get Fair Market Rents for Section 8.

[Samson Kay]

I have a new four family house that I'm currently rehabbing. I have a general idea of what I plan on putting in. But I thought it would be a good idea to establish a baseline for FMR criteria for apartments in my area needed for section 8 Housing.

Example, do I need stainless steel appliances? How about a dish washer? What about hardwood floors, and granite countertops. Obviously these are nice to haves. But would I still be able to get FMR with just laminant if the property was clean?

Thanks as always!

[Joel Owens]

First you need to know what the local section 8 housing agency is paying out for the type of property you have in your area.

Voucher averages might be higher, the same, or lower than what you could get renting to a regular tenant.

Talk to local investors that deal with section 8 there and see how the agency performs on payments, not screwing things up, and if the case managers or on point or lazy.

Wouldn't put really nice things in for a section 8 tenant. Only if the area had very high rents and other rentals had those as customary would I add such a thing. If market rents are 900 and the other landlords are offering laminate and carpet etc. then do the same. Screen out for the bad tenants and that will help your property perform and cash flow.