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Updated almost 5 years ago on . Most recent reply

User Stats

22
Posts
9
Votes
Maria Marrero
  • Real Estate Agent
  • Port Jefferson Station, NY
9
Votes |
22
Posts

Section 8 tenant analysis

Maria Marrero
  • Real Estate Agent
  • Port Jefferson Station, NY
Posted

So I am trying to help out a single mom not to lose her section 8 but at the same time, I dont want to lose money.

She makes only $13,824 A YEAR [or at least thats what she reported on smartmove.com]  The rent is $1750 plus utilities, section 8 will cover $1310, she will pay $305 and then she said her boyfriend will help with the other $135 [which I am not sure is allowed but we are seeing].  My think is if she is only making $1152 a month, has a car payment, car insurance plus food & then all this, do you think I should rent to her? I know that section 8 is sure money but its only a portion of it.  Her credit is also only 549 but she has been paying her car faithfully since November [I see this on the credit report].  She has a collection debt of $3,017 

As much as I want to help her & feel section 8 is a 'sure thing' I am not sure... Thoughts? ideas? I am requiring 2 security deposits plus 1st months rent

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