According to this new Small Area (per zip code) Fair Market Rents guidelines HUD has introduced in Detroit, landlords are no longer receiving as much extra rent as we used to which is making renting to Section 8 tenants less desirable. The goal of HUD is to get tenants to leave the inner city poverty cycles and move into the suburbs. Did you see the memo? I have a link to it in my blog and links to the zip code rules and the utility allowance worksheet so you can figure out your own zip code’s rental amount. What we don’t have a formula for is the “discretion” the housing commissions can do to give us more than this base rental amount. The discretion is dependent on each particular housing commission’s funding they have. Some will pay us more and some will pay us less.
Blog:
I do know which housing commissions are apparently the best funded and most well run. I have a breakdown of that in my course. My course also saves you money because you learn how to work with the water department and how to buy houses the right way in the first place and how to secure your houses that are all specific and unique to Detroit.
Link to Course: Section 8 Rental Mastery
If you want to discuss buying a Detroit turnkey rental, please go to my calendar here and book a call:
If you want to learn more about our online course, Section 8 Rental Mastery, book a call here:
Exclusive Buyer List
We only sell a couple of houses a month. This is step 1 to join our waiting list. Cash buyers get our newly renovated turnkeys. If you're using a loan, I can sell you our other houses that we renovated between 2016 and 2020 that are now for sale again. Buyers typically sell them because their property manager has been too difficult. Or I can refer you to my best Detroit agent.
TENANTS: If you have questions about the new SAFMR rules and how these affect you, work with Jay at www.Section8Consulting.com
Free Offer:
Section 8 Prescreening Questionnaire
**Disclaimer:**
I'm not a lawyer, and the information shared in this video is for informational purposes only. It is not intended to be legal advice. Please consult a qualified attorney for any legal concerns or questions you may have.
0:00 Intro
0:36 Detroit Turnkey Properties for sale
0:53 Online course to master the unique Detroit rental market
1:13 Pros and Cons of Renting to Section 8 Tenants
3:28 HUD wants to stop paying us extra to rent to Section 8 tenants
4:00 HUD is offering higher rents for tenants to move out of Detroit
4:22 Barriers to Section 8 tenants moving out of Detroit
6:16 Detroit now has limitations to rents it will pay based on zip codes
6:52 48205 went from $1,500 rent down to $1,100 rent
8:58 Housing commissions have some ability to pay more than the $1,100 amount
10:22 If we raise rent, now the tenant will have to pay the rental increase and not Section 8
10:32 If the housing commission is able to pay me more than a cash tenant, I will choose a Section 8 tenant
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PLAYLISTS
Section 8 Secrets Revealed:
Detroit Investor Information:
Properties:
East Side of Detroit:
West Side of Detroit:
Detroit Renovation Project Start to Finish:
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About our company:
Great Day Realty buys houses in Detroit, renovates them to high standards that will pass city and Section 8 inspections, places deserving tenants, and then flips the houses to investors from all over the country and all over the world. We then guide you to manage the house yourself or we can refer you to our team member for property management.
To Tenants:
Please check my website for rental qualifications, available properties, and a rental application: www.GreatDayPropertyManagement.com/rent
Website:
TikTok:
Instagram: Instagram.com/Monique_burnss
Great Day Realty, LLC
14685 E. 11 Mile Road, Suite A
Warren, MI 48088
(248) 390-3982 Monique's cell
Monique@GreatDayPM.com
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