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Archive for the ‘Section 8’ Category

After about 1 1/2 weeks of going round and round with Section 8 to petition for our asking rent, I gave up.  I sent Section 8 rental comps of $895, $925, and $875 for comparable 2 bedroom duplexes on Tyson Cove and they still would not approve our asking rent of $900.  These are all strong comparables and from the MLS no less.  We actually have a lease for $925 for a comparable 2 bedroom down the same street.  Asking $900 was reasonable and the Section 8 tenant who applied agrees too – saying she looked around a lot and couldn’t find a quality property for that rate.

The most Section 8 would approve is $860. It appears Section 8 is treating rentals equally when not all of them are.  Our property, for example, was formerly owner-occupied and had upgrades that most rentals do not, like better quality ceiling fans, faucets, and light fixtures. It also has a garage door opener (most Austin duplexes do not have them), new carpet, new wood vinyl plank floors, and new paint.

It took Section 8 over a week to get back to me regarding my rental comps and in the mean-time the tenant suffered and had a delayed inspection and move-in.  Slow communication with Section 8 seems to be the norm.   In the end we decided to accept the $860 approved rent and move-on, partly to get the tenant moved-in as she planned and partly to minimize any further vacancy.  The delay with Section 8 was no fault of the tenant’s.  I believe we could have waited another couple weeks and rented it on the open market for $900.

-Hong

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