All Forum Posts by: Mike Fisher

We manage hundreds of section 8 tenants for many years. The process is simple for HACC. 

Landlords complete the rent increase request form. This form is signed by both landlord and tenant. Tenants only pay the increase for any amount ABOVE the payment standard. So, if the contract rent is $1350 and the payment standard is $1450, a $50 increase would be paid by HACC. If the contract rent is $1450 and the contract rent is $1500. If the increase of $50 is approved, the $50 would be paid by tenant.

The max approved is 5% of the total rent. One rent increase per year is allowed. The rent increase is determined base don rent reasonable. Meaning, the housing specialists pull rent comparables just like when a tenant moves in. I always encourage landlords to send in their own rent comparables or three market rate leases but it is not required.

I hope this information is helpful.

Good morning Investors!

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Hi Katie- We manage hundreds of homes in the area. Let's get on a call to discuss. What's your phone number and email?

Mike 

If your property is failing in the Chicagoland area we have your CashFlow diet with our Amazing Team. We return calls and get you back to why you purchased the property. CashFlow!

I personally own many 4 unit buildings and I Cashflow much higher than a single family year after year. I'm curious to what others have found? 

Hi Toronda- Welcome to the cold. Check out MFCashFlow.com and let’s chat. 

Mike 

@Kevin McCann Thank you for the recommendation. Our goal is Communication and CashFlow.

This has hit everyone and crushed the CashFlow! I appeal the property taxes every year. I use Alfonzo at property tax reducers. PM me if you would like his contact info. He has helped me and many others in the appeal process. 

Hi Matt, I’m very familiar with the Southeast suburbs and know the section 8 process as well. 

Hi, I highly recommend Castle Law. Gary Davidson and his team is Awesome.