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Updated over 1 year ago,
Housing voucher income to rent multiple
Curious to know how others are qualifying prospective tenants with vouchers (section 8 etc) with respect to their income to rent multiple.
On a non-voucher prospect we require documented income to be either 2.5 or 3 times the rent (depending on the property)
With vouchers we require documented income to be either 1.5 or 2 times the rent (depending on the property) with the assumption that the covered rent counts as 1. As we scale up, we are finding that very few voucher holders are coming close to these ratios, and many have virtually no income.
Any best practice advice would be appreciated.
- Rick Bassett
- 475-900-3100
Bassett Property Management
72 Reviews
4.9 stars