All Forum Posts by: Stephen Solum

Hello BP.  

I am looking into section 8 in Illinois in Will county (Joliet). As I was looking up the HUD advertised rates I have noticed in 2016 through 2018 the amount has been dropping. (Example 2 bed rents in 2016=$1176, 2017=$1142, 2018= $1110). Say you started renting a 2 bed room at the max in 2016 at $1176. In 2017 when you renew the lease do you have to lower it to $1142? Can you keep it the same, can you raise it? From 2016 to 2018 that is a $66 drop a month or $792 a year. I assume it will go down again in 2019.

Some one with more experience than me please educate me. I realize that what I am asking may be stupid or common knowledge, I just could not find anything trying my search words. 

  Also if anyone in Joliet IL has rented to Sec 8, is it worth your time or not?  Thanks. 

Hello.  My Name is Stephen and I am from Naperville Illinois.  I bought my first home about 6 months ago, it is my primary residence.  I now want to buy a rental property in this area.  Right now I am trying to get educated and find a mentor.  I work in Healthcare and hate winters, but love fall.  I am originally from California and have been here for a few years.  That is about it for now, looking forward to the forums.