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Investing Section 8
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Jul 10 •
Payment standard question
Hey! I have a property in a zip code that has a listed payment standard of $3,030. The housing authority ran their software to assess rent and proposed $2,514. That's 17% below the standard! I know the standard is not guaranteed, but I was shooting for 10% below WORST case. I submitted comps, but no success. Any one else have similar experience? Seems like my HA is started to crack down on rent prices.
0 likes • Jul 14
The prices listed on Affordable housing are proposed rents, correct? Once a tenant is approved the actual rent can be different, correct? The proposed $2,514 is fair when considering market rates, but almost 18% under the payment standard. The HA knows we are investors so they need to make it more enticing than market rent prices???
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