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Updated over 7 years ago,

User Stats

37
Posts
9
Votes
AL-Teef Jones
  • Newark, NJ
9
Votes |
37
Posts

Screening a Section 8 Tenants

AL-Teef Jones
  • Newark, NJ
Posted

Hello BP,

I'm nearing a closing of my first 3 family unit in Newark, NJ. Me and my partner have been marketing to tenants, we have our standard minimal requirements. I've been targeting people via the traditional route; craigslist, zillow, ect..

My partner does have some section 8 tenants but I'm a little weary of sec 8 for a few reasons;

- I'm going to live in one of the units and house hack so the quality of the tenant is really important to me because I'm going to have to co-habitat  with this person.

-I'm weary of Gov't program reliance because I know there are going to be strings and limitation attached.

- I feel like since a sec 8 tenant does not have skin in the game they will not real care about the upkeep of the unit.

-I know a significant amount of the rent is covered by the Gov't but I'm trying to look beyond the "guaranteed" money and seeking to get quality reliable tenant and unfortunately section 8 does not scream that to me.

All in all I don't know much about Section 8 and how it would work for a land lord so any advice would be greatly appreciated.