All Forum Posts by: Lynn Wong

@Tom Server I am newbie to Section 8 too, but they are paying me a little higher than market rent because my house is new and has all new appliances. I am in CA. They told me that I can ask to increase rent ( their website says up to 9.2%) after a year. It doesn’t hurt to ask. 

 @Russ Tarvin and @Melanie P. the inspection went well. The inspector was very thorough, he told me everything good, he didn’t find anything wrong. Thanks Goodness! The tenants signed the lease, paid deposit and ready to move in. Relieved! 

Yes. All 4 people on the voucher are on the lease and no one else allowed, including the voucher holder grandma, the 28 yo daughter and her two kids.  I will have 2 adults signing the lease. Thanks!

@Russ Tarvin and @Melanie P.

The voucher has tenant’s daughter who is 28 years old on it. Should the lease be signed by both the mother and daughter as joint tenants? TIA! I will update the inspection Status tomorrow.  Cross fingers! 

@Russ Tarvin Thanks for your encouragement!  I already paid my first mortgage this month.  I hope I get rent soon, not come out of my pocket for the 2nd month mortgage. Yes, So nerve racking ! It took them a week to process with many emails/calls. It’s almost 3 weeks by inspection date next week. The house is new and we already checked everything; hopefully, the inspection passes the first time. 

@Noah Laker Thank you very much Noah for your suggestions! 

Hello everyone, 

I just accepted rent from section 8 and we will have inspection next week. I am preparing the lease using BP California Lease. It’s 12 pages long. I think it includes everything I could think of. 
Here are my questions:

1. Should the rent amount be the whole rent amount contract with housing, including housing part and tenant part?

2. Anything different on the lease for section 8 tenant that I need to put in the lease, especially in CA with so many rules.

3. How many dates should I allow guests in the house before it needs to be reported to section 8. I heard Section 8 does not allow extra non-benefit member living in the house. 

Thank you very much!

Lynn

I like the title researcher. We had to deal with the inexperienced underwriter when we were closing our deal. She asked if my husband own two houses (same name) that we didn’t disclosed. Turned out those grant deed were recorded when my husband was 18 years old and different parts of the country. No matter we testified that he doesn’t own them, no related to the persons on the trust. She didn’t bother to call the county to verify , just sit on the computer researching and questioning.  We told her that’s it, we would not provide anymore answers to her related to that matter. She then approved our loan next day. 

@Theresa Harris

What bank(s) or products give you high yield percentage now? Thx!

I am learning too. I came across Stessa free for BP Pro member (I think so bc didn’t ask me to pay) . Just started to put in my invoice, receipt , it connects with bank as well. Not sure if It works well but it is working for me so far on my first investment.