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Updated 11 months ago,
Immagrants as tenants
Hey BiggerPockets Community,
Me and my wife are new to real estate and just recently bought a legal 2 + BSMT unit in Chicago. We were reached out to by a migrant housing group member asking if we would house a immigrant member/family/etc. where the nonprofit would provide a 12 month stipend to cover for the "whole" lease. Anyone who has rented out to immigrants before, thoughts on considering this? Something we are currently cautious of is since this would be our first tenant, we are taking on an additional amount of risk due to credit & background would be unknown. Any insights would be greatly appreciated, especially if you have accepted the same or someone in a similar situation as a tenant.
Me and my wife are new to real estate and just recently bought a legal 2 + BSMT unit in Chicago. We were reached out to by a migrant housing group member asking if we would house a immigrant member/family/etc. where the nonprofit would provide a 12 month stipend to cover for the "whole" lease. Anyone who has rented out to immigrants before, thoughts on considering this? Something we are currently cautious of is since this would be our first tenant, we are taking on an additional amount of risk due to credit & background would be unknown. Any insights would be greatly appreciated, especially if you have accepted the same or someone in a similar situation as a tenant.