Rent Raise, Section 8
I am new to the landlord business and have a house comming up for lease renewal with a section 8 tenant and was wondering what forms and how do i go about letting the tenents and the housing authority know i want to raise the rent from $750 to $800. Market rents have risen considerably and i have also done about $4000 of repairs this past year, roof, plumbing, etc. Thanks for the help.
read this web-site and determine what you want to do. Join a RE club in your area
Both sound great to me, but I would go with option 2 and take the appreciation, unless I needed the money now. Appreciation happens tax free until you sell--you can borrow against it tax free and it compounds just like interest in a bank (generally). Besides, less landlord headaches.
The only two reasons I would look at the higher cash flow/lower cost properties would be if I needed the money to make ends meet or if I could put the money to work in another investment.
Thank you both very much. I really appreciate your advice.