Does anyone have an idea of what percentage rent increase section 8 permits per year, I think its between 4-5% in Northern Illinois. Eager to get an even heavier cashflow I dont think my section 8 tenants would mind. :P
I have one Section 8 tenant, they have been there for 10 months. When you find out please let me know as well. Not that I look forward to getting a increase so that I can pay higher taxes. I just don't want to lose money by getting a few dollars more. Happy investing
What rent increase do you want? What rent would be competitive with similar rental properties in your area?
Whatever that number is, go to your local housing authority with that number. They may accept your rent increase, or may counter with the highest increase they will allow.
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Hello Ninja1300,
I have one Section 8 tenant, they have been there for 10 months. When you find out please let me know as well. Not that I look forward to getting a increase so that I can pay higher taxes. I just don't want to lose money by getting a few dollars more. Happy investing
What rent increase do you want? What rent would be competitive with similar rental properties in your area?
Whatever that number is, go to your local housing authority with that number. They may accept your rent increase, or may counter with the highest increase they will allow.
Thanks for the info
I always go with + $50.00 a month