hud/section 8
I have houses in different towns. 1 town I rent (hud) and recv a check for $400.00 another town hud will only pay $300 for a house in a like neighborhood. Housing office says they base rent payments on houses in that neighborhoods rental comps. I own the comps. I know the rentals of those houses. I recv. $400.00 on those comps. How can I force them to raise my rent payments.
You can not force them to pay more; you can only appeal their decision with facts that can be verified.
You do not want to get into a spitting match with these folks, as you will loose.
You have two different towns, two different market areas and to different medium income levels. Base upon that fact your two subject rentals do not compare.
[addsig]
sorry, i was vague. the comps i refered to are in the same town, the same block as a matter of fact they are on each side of the house in question and 1 across the street. You are correct about a spitting contest, but it just seems that other investors in this same town are getting better rents. almost seems like some money is going under the table. I REFUSE TO DO BUSINESS LIKE THAT. Just wondering if there was anything i could do besides wait for this ol' fart to retire?
I would just appeal their decision with facts that can be verified in a vary business like manner and tha's about all you can do.
[addsig]
If you can get a higher rent without using Section 8, then why bother with the Section 8 program?
you get a 1 year contract. payments on time every time. payment in mail box on the 3rd of each month no excuses.
dc1,
That's what I'm talking about. Rent on time and every time.
The joy of section 8
[addsig]
I have several properties with Section 8 and they definitely have their pluses. I have also experienced problems with different housing agents in terms of the rent comps. My advise would be to set your rental price and stick to your guns. Their goal is to get the monthly rent as cheap as possible, but as investors, we are interested only in the "bottom line".
Initially, they may claim that they can not pay the rent that you are asking, but when you indicate that you will rent to someone else, they usually change their tune. Remember, they "need" the landlords; we can rent to anyone!
Good Luck!
surely you are not saying run this realestate thing like a business and negotiate to my advantage! thanks i believe i will give it a try and try not to let the personality conflict (i can't stand the guy) get in the way. hum... maybe I should take him to lunch to talk this out. What do you think.
Sorry, gonna but in here...
I like your idea DC1.
Solomon once said, "A soft answer turns away wrath."
So, treat him with respect, and in a business like manner, and he will respond to you better.
Did you ever read, "How to Win Friends and Influence People?"
Cheers,
Nick