Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Account Closed

Account Closed has started 4 posts and replied 85 times.

Post: Section 8 housing

Account ClosedPosted
  • Professional
  • Tampa, FL
  • Posts 96
  • Votes 77

@Nathan Richmond

The first step to transfer the unit into your name, a transfer of ownership form which your Housing Authority will provide. Are you planning on starting up a new lease? If so, inquire on the rules on Rent Increase Request from your Housing Authority, some HA's increase after one year of lease. Also find out how far ahead of tenants Anniversary month will you have to submit a request. Most HA's accept request as long as it has been a year but a few requires submission 60 days before Anniversary month(which is sometimes not the same as lease renewal month). 

Search unassisted units 2miles away from the address to see how much the rent in the area is going for so you can have an idea how much to request( section 8 will not approve if your unit is the highest rent in the area). Also, inquire on the payment standards based on the number of bedrooms, that may affect whether or not the increase will fall on the tenant or be paid by the HA.

I hope this helps, you can always inbox me if you need help.

Post: Section 8

Account ClosedPosted
  • Professional
  • Tampa, FL
  • Posts 96
  • Votes 77

@Leslianne Costello

Hi leslieanne, there is a way to get an increase. It all depends if the client has gone over the payment standard threshold. Speak with the specialist and they can give you further information. If you go over the tenant will have to pay the difference of the increase. Housing Authority may have a copy of lease or have to request it from their storage company. HA typically keep 2yrs of history and send files to Iron mountain but they can be retrieved if requested.

Post: Section 8 : need help

Account ClosedPosted
  • Professional
  • Tampa, FL
  • Posts 96
  • Votes 77

@Rudy Manna

I have section 8 experience, processing experience. If something comes up I am here to help 

Post: What I'm Starting to Realize about Wholesaling in Miami

Account ClosedPosted
  • Professional
  • Tampa, FL
  • Posts 96
  • Votes 77

@Edgar U.

Hi Edgar if you are ever in need of some section 8 help let me know. 

Post: Section 8

Account ClosedPosted
  • Professional
  • Tampa, FL
  • Posts 96
  • Votes 77

@David Putnam

It's best to run your comps for unassisted units....at least 3 in a 2mile radius, if you can't find them expand to 3miles. Also if her max subsidy is 1,001...then that's the Max rent she can afford based on her income. Keep in mind even if your survey comes back to a high house value if the tenant has low income your HA will request you drop the requested amount or tenant will not be able to afford unit. Zillow and realtor can also run comps for you to see what other unassisted units are asking for rent. Payment standard are the max the HA would pay based on the surrounding area and number of bedrooms....ex3bdrms can be $1440 0r 2bdrm $1150....these numbers are plugged in calculation based on how many bedrooms a client is eligible for but does not mean the landlord can request that amount....your rent will be based on survey and the family income. In some cases if the family has income they can afford the amount or even more, it is a case by case based and no family is the same. 

Post: New Investor

Account ClosedPosted
  • Professional
  • Tampa, FL
  • Posts 96
  • Votes 77

@Corey Jacobs

If you need any section help, I am here to assist. 

Post: Section 8 Housing

Account ClosedPosted
  • Professional
  • Tampa, FL
  • Posts 96
  • Votes 77

@ed 

@Account Closed

I believe if you work closely with the housing authority and tenant keeping records of anniversary dates, inspection dates and attending landlord quarterly meeting you should be fine. I believe if landlords take their time and questions and not wait until something occurs section 8 will be a smooth process. While I was a specialist I noticed landlords only get involved when there is a problem but don't know when their tenants are recertifying or when inspection dates are. Please do not rely on the tenant to keep you informed.

Post: Section 8

Account ClosedPosted
  • Professional
  • Tampa, FL
  • Posts 96
  • Votes 77

@Jeff Bonner

Yes this is possible, the tenant may not be working or have low income. Also depends on how many people are living in the unit.

Post: Section 8

Account ClosedPosted
  • Professional
  • Tampa, FL
  • Posts 96
  • Votes 77

@David Putnam

The best site to check out is gosection8.com.....search unassisted units 2 mile radius of the address. Tenant has to be at least a year into the lease before you can request an increase. Also, check with housing authority if you need to submit rent increase request 60days before Anniversary date. Anniversary date could be different from lease date. Call tenants caseworker to retrieve correct date and rent increase request policy.

Post: Buying Section 8 Property

Account ClosedPosted
  • Professional
  • Tampa, FL
  • Posts 96
  • Votes 77

@Tiffany Campbell

Eddie is correct, depends on the housing authority. I am experienced with section 8, if you have any questions feel free to ask.