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Updated 10 months ago,
Rental price tools vs Section 8
Does section 8 housing inflate the rental price tools on BP or rentometer?
I purchased my first long term long distance rental last year in a solid B neighborhood in Memphis with a tenant in place. The lease is up the end of April and I will be able to finish my BRRR on this place with minor improvements and refinancing out. Current rent is $1125 for this 3 bed 2 bath place. I will be able to make it a 4/2 with a bedroom above the garage.
My property manager advised me to keep rent below $1300. I pushed back sighting the BP rent estimator and rentometer having high confidence of a median range of $1300-$1700. His response was that section 8 inflates the numbers for these tools and messes up the market. Is this true?!? I’ve never heard of this. Thanks for your time.