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Re: Section 8 rent increase
by Anonymous
on January 5, 2008 @21:51
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National realtors are not who you want these listings from. You want local listings since the price for each area is set by the HUD for that area. Call a local LL association and ask for the names, address, phone numbers of LLs in the area that have rented comparable units in the last year. Call and talk to these owners and get the specific info about those comps in your local area. You need to prove that the FMV of rent in the area is equal or above what you are asking. Send these comps to the S8 office as proof that your price is correct. Note that you will have problems getting this increase if your unit has gas or oil. The costs for these utilities have risen so much and the formula to calculate the tenant's rent has to include an allotment for them if the tenant is responsible for these utilities. The allottment is subtracted from the rent level for your area since the tenant pays that utility. So it may be difficult to get an increase at this time. S8 is actually cutting rents in this area now.
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Re: Section 8 rent increase
by Anonymous
on January 6, 2008 @00:47
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In the midwest. The gas and oil rates have climbed too high. They have increased the allotment they subtract from the rental amount for these extra utility costs if they are the tenant's responsibility. Those with current contracts will keep receiving the contracted amount until the end of the lease. But for new leases, they now want to pay about $400 a month for a 3 BD unit with gas heat & hot water. (I can't rent it for that!) This is because they are allowing over $200 for the gas utility (plus an amount for the electric and water that the tenant pays for). Of course, no one wants to accept Sec 8 right now.
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