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Screening a Section 8 Tenants
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.