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Updated about 1 year ago on . Most recent reply
Section 8 in Philadelphia
A lot of investors are turning to section 8 now that they've moved the rent higher than market rent. I'm thinking of adding more section 8s to my portfolio in 2024. Do you often receive the rent listed on the chart? or less than?
Most Popular Reply
Most often you receive less money than is listed on the chart. After you submit your prospective tenants voucher to PHA, one of the steps prior to lease signing is called "rent determination" . It is at this stage when PHA will do a rent comp analysis for the property and look closely at the "client's" (potential renter) finances. Using that data, they will then let the owner know how much they(PHA) determined rent will be. The amount of the determined rent is a combination of what PHA and the tenant will pay monthly.
Hoped that helped! Free free to DM me for more info.
Regards,
Tim