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Updated over 3 years ago,
Why is HUD FMR higher than real FMR?
Is there a reason that the HUD FMR for section 8 housing is so much higher than actual FMR? My boss owns properties in the Bay Area and is interested in buying an apartment complex and turning it into Sec 8. We found that rents are $1000 higher than rents we are already getting for 1 unit apartments and see this as a great opportunity. We are already aware of the problems that may arise with Sec 8 tenants but why does is it seem like it is so incentivized? Is there a catch?
Thank you.