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Updated 10 months ago, 02/24/2024
How to know what to charge Section 8 tenants for rent
Hi All! I have bought my first duplex and going to house-hack it. The unit that is rented will be a Section 8 tenant. I have looked at the HUD fair market rents for the city I bought in, however, I don't understand how I determine what the rent for that property should be. I know that HUD pays x amount for each # of bedrooms. For example, the fair market rent in the area I purchased is $1500 per unit since it is a 3-bed. Is that the amount I charge for rent and include in all my rental advertisements? Average rents in the area I bought in, to non-section 8 tenants, is around $1000-1100. So, that being said, I am confused on how I determine the rental amount. This is my first property purchased!! Any advice is appreciated. Thank you!!