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Updated 4 months ago,
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Income Requirements for Section 8 Tenants
I have my first Section 8 applicant. Their voucher covers the entirety of the rent but I’m curious what type of income I should require for approval as what they report for their monthly income is so much less than I would normally require which is 3X the rent.
Is it just not my worry what their income is since the voucher covers the rent, or is my concern that if they only have about $950/month then they won’t properly be able to maintain their pets and their standard of living valid?
Rent is $1700, reported income is about $950.
I haven’t marketed the unit yet, I fell into this applicant by chance so I’m sure I can get an applicant that will meet my 3X requirement. But obviously if my rent is covered there has to be some other standard I should have.