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: William Price

William Price has started 12 posts and replied 44 times.

Post: Who to include on a lease agreement

William PricePosted
  • Investor
  • Arlington, VA
  • Posts 45
  • Votes 27

Thanks everyone for your suggestions.  I added the grown children as tenants and they are all jointly and severally liable.  

Post: Who to include on a lease agreement

William PricePosted
  • Investor
  • Arlington, VA
  • Posts 45
  • Votes 27

I'm getting ready to sign a lease for a property I own and I am faced with a situation I have not encountered before.  It is a Section 8 property and the Housing Assistance Payment Contract (Sec. 8 contract with the govt) has the mom listed as the tenant with her other children and grandchildren listed in a separate section as other members of the household, but not the tenants.

I have a separate lease that I execute in conjunction with the HAP contract and I'm wondering whether I need to keep the tenant the same (only Mom) and list her other members of the household in a separate section or whether I should include her adult children as co-tenants.  

Thanks for any advice!

Post: Section 8 tenant portion of the rent

William PricePosted
  • Investor
  • Arlington, VA
  • Posts 45
  • Votes 27

Thanks for the good idea on picking the tenant with the lowest income to maximize the portion of rent from Sec. 8.  Both of them have vouchers in hand and I will probably refrain from asking them what their current portion of rent is for their current apartment.  

On a separate note, has anyone ever run a credit check on a tenant and had the report come back as unavailable because file was too thin?  I used mysmartmove to run the credit check and on one of the applicants it said it was unavailable because the file was too thin.  The prospective renter is in her late 50s so I wasn't quite sure what to make of it other than maybe she's never had a bank account or credit card.

Post: Section 8 tenant portion of the rent

William PricePosted
  • Investor
  • Arlington, VA
  • Posts 45
  • Votes 27

Hi,

I'm getting ready to rent a duplex to a Section 8 tenant and I have 2 prospective tenants.  They both have vouchers and I wanted to ask them what portion of the rent they are responsible for.  

The rent is $1,800 and in the past my tenants have been responsible for anywhere from $450/month to zero.  I want to pick the tenant who has the highest amount paid for by the government.  Is it legal to ask them how much of the monthly rent they pay on their own?

Thanks for any insight!