CITYfheps or Section 8

[William Quinones]

Hello All, 

Im currently in contract to purchase a 2 family in Brooklyn, NY  as an investment property. Im looking to put in either section 8 tenants or CITYfheps tenants. 

Wanted to reach out to the community about which one was a better option. So far what I know is that both pay the same amount for rent, section 8 does annual inspection and CITYfheps only does one (1) inspection when the tenant is moving in. 

Are the type of tenants the same? is one program better than the other?

Thank you in advance for your input. 

[Kobi Nagar]

Here are some things to consider:

Most of Cityfheps are coming directly from the shelter and with my experience it’s hard to vet them since they want to be out and you do not consider income and credit. in general they are not used to keep an apartment (recycling, cleaning etc…) since they do not have any responsibility at the shelter and some of them stay there for years.

The city will mail you the payment and usually it’s twice a month. (HRA pay a portion)

The big problems with fheps is that after a year they need to reinstate the program and their portion might be changed. Also after the transfer the case is closed and for anything you need the tenant  cooperation.

Section 8 will do inspection and will give you violation on anything in the building not just their apartment. They have a direct deposit and do it once a month.

The key is always to try and get the best tenant you can. hope that helps and good luck