Red Flags to look out for when finding a tenant during pandemic

[Moustafa Ahmed]

Hello BP community,

Hope you all are staying safe out there. Wanted to reach out to get thoughts on my situation.

I purchased a multi family property in NJ (2 units) back in Feb 2020 (live in one, other is up for rent). It’s in a class C neighborhood, currently listed for rent but with the current pandemic I don’t except it to be rented out ASAP.

My fear is if I find a tenant who meets the screening requirements do you think they would not pay the rent to take advantage of the pause on evictions etc? Would you guys suggest pausing until things stabilize? Appreciate any guidance.

P.s - I’m in the same position as I was prior to the purchase (renting) so I’m not necessarily worried about covering the mortgage.

[Marc Winter]

@Moustafa Ahmed, as we are all learning more and more with each passing day:  "you place your bet and take your chances".  As you already know, NJ is very tenant-friendly, so be super cautious.

We are on lockdown in PA, but we are still doing business:  virtual showings, and Zoom interview with prospects.  No direct personal contact, however, we all will adapt.  That's what humans are best at--adaptation.

Good luck!