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Updated over 9 years ago on . Most recent reply

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Scott Weaner
  • Rental Property Investor
  • Yardley, PA
561
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New Jersey Temporary Rental Assistance

Scott Weaner
  • Rental Property Investor
  • Yardley, PA
Posted

As I am trying to get my new duplex filled, a prospective tenant has asked about this. She "qualifies" for it, but they need to see a lease, though it does not need to be signed. Also, as has been noted in previous discussions, it is temporary, lasting 12 months.

I am very hesitant to consider this, as the risk seems too great. Any advice?

Most Popular Reply

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Ibrahim Hughes
  • Real Estate Consultant
  • Bloomfield, NJ
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Ibrahim Hughes
  • Real Estate Consultant
  • Bloomfield, NJ
Replied

It's known as 'TRA' in our biz. The issue when I last accepted it (2004?) was that it was only for 6 mos., took them forever to initiate payments and they always seemed to cut if off early thereby making me wait in a long line to get into the building to talk with the case worker and find out what was going on.. I hear they have gotten better although no personal experience. It's a federal program that's administered by each county so your area may be more efficient.  I would at least not give keys until you had your check in hand. I'm told that despite their Heeing and Hawing, they can do it upon request.

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