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All Forum Posts by: Donald Candella

Donald Candella has started 2 posts and replied 2 times.

Does section 8 allow late fees to be charged on the tenants portion of the rent. Example section 8 pays $2,000.00 and the tenant portion is $800.00, is it within my rights to charge the tenant 10% ($80.00) in addition to their obligation of $800.00 for being late? Can I collect any additional fees for every day past due?

Lets say they are 17 days late when they finally cough up the rent, I would like to charge them 10% plus $10.00 a day for every day late they are which would equal $170.00 plus $80.00 plus the rent of $800.00 equalling a total of $1050.00.

I have not run into this problem, but my father always had problems with section 8 tenants and I want to be within my legal rights if I have problems.

A law was past which allows a maximum of a 5% per year increase in rent. My question is, if you have just bought a multi family building (in this case a duplex) which is being rented at under market. How do you handle the under market rents? Are you restricted at raising the rent 5% a year until you reach market? Can you raise the rent every 3 months until you reach market? Or do you hit the tenants with a $300.00 increase the first month you own the property (bad idea if you ask me)?