Rental Property Investor · Toronto, Canada · Member since 2014 · 37 posts · 8 votes
My tenants in my 3 bedroom 1 bathroom apartment in the Bronx are moving out unexpectedly today, so I am looking for new tenants. I have had many people respond asking if I take LINC or CITYFEPS. I'm thinking about whether I should consider taking LINC or CITYFEPS. Does anyone here have experience with either? I am afraid it could be more difficult to evict a tenant on one of these programs, and these tenants might be more likely to trash my place.
While I am not an attorney and do not have a tremendous amount of experience with programs, I will tell you that it will be much more difficult evicting a tenant with these programs. Where is your investment property? Can't you get market rate rent from cash tenants or are programs more common? Regardless of whether or not you take programs you should make sure that you qualify your potential tenants to the fullest. That means make sure they have decent credit. Absolutely no previous evictions. Background checks on everyone over 18 to be living there. Etc... You should try to find an investor in the Bronx who also knows about these programs to guide you if you decide to go down that route. Good luck!!
Thanks for your feedback, Ceasar. It's just that at least half of the people who respond to my posts ask if I take LINC or CITYFEPS or Section 8. In fact, a real estate agent just called me talking up a LINC 1 single room occupancy program that could get me some very good rent rates. That sounds tempting, but of course I don't want to get tenants that would destroy my place and be extremely difficult to evict. I also don't want I am planning an open house for tomorrow afternoon and I guess I'll see what prospects I get. My property is in the Bronx.