A prospective tenant asked me if I'm OK with TRA. It was the first time I heard of this program. The lady said it's like Section 8 but for a limited term of one year.
Did anyone deal with this program? Should I keep away from it?
I highly recommend speaking to your attorney about it. I've heard different opinions from different attorneys. Rely upon your own attorney's advice, and not personal opinions from others.
It's funny you post this, just got a call on a new rental listing I have in an urban area and the person wanted to know if the landlord would consider a tenant with temporary rental assistance. My landlord client was looking for at least a year. The representative said the tenant would be re-evaluated after 6 months to see if they still qualified for the assistance and they couldn't guarantee a year long lease.
At least with Section 8 its guaranteed money. New Jersey is very tenant friendly, the eviction process takes forever.
RUN!! We've had 2 tenants with TRA and as the name clearly states, it's temporary. The agency may tell you it's good for up to a year. Well, they may *qualify* for up to a year, but they do quarterly reviews (at least they used to) and if the tenant's situation changes or the agency funding runs short, they will terminate the funding immediately. No notice at all to the landlord. The tenant is expected to notify you, and maybe they will, maybe they won't.
Because they have nowhere else to go and no funds (and usually no job), you'll be paying for an eviction.
You can't say no to them if they ask if you accept it, but you can likely find a reason to reject their application.
We've evicted 2 tenants in NJ, and while it did feel like forever, it was 6 weeks and 8 weeks. Yup, that's almost 2 months rent lost in each case, but from horror stories I've heard, it was fast. A NJ landlord has to move immediately to evict, and it can be done for tenants with or without children.
thank you guys for your input, I'll definitely stay away from this risk!
btw, can I reject someone with TRA on the grounds of the low income (less than 3 times rent)?
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